The disruption wrought by COVID-19 to global markets will continue to abate this year, according to Cushman & Wakefield economist Kevin Thorpe – and several indicators will be top of mind for occupiers and investors alike as the economy recovers.
Chief among them? Multifamily household formation will continue to drive demand for units in the sector. Thorpe predicts that US household formation will surge up to 40% above the historical average in 2022 and 2023.
"Home prices and rents exist in equilibrium," Thorpe says. "Watch for home price growth to slow down generally (it's already begun) while rent growth persists and accelerates in lagging markets."
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