The next inflation issue is Amazon and Wal Mart. Economists calculate that Amazon may account for as much as one half point lower inflation.

If there is enough concern that the first scenario of a pending recession is believed by the Fed, then they will likely pause in March or June.

Emerging markets have two major problems which could create a world financial problem if not handled well.

The economy remains on a very strong track at 3.5% growth and consumer and business confidence are at or near historic highs, and unemployment is at a historic low

All good things for CRE, but none are for sure. The political crisis in the EU could disrupt everything by early 2019.

There is such a high level of uncertainty at the moment, that any forecast for a project needs a wide best and worst case scenario.

CRE should see a continuation of good times for at least the next year, and capital should remain available and reasonably priced.

There are so many black swans circling now, that the level of certainty of any forecast is suspect, good or bad.