Grubb and Ellis recently issued a report, quoting the Bureau ofLabor Statistics’ March jobs report, indicating that 180,000 newpayroll jobs were produced that month, while the 4.4% jobless ratematched the recent low set in October. This is welcome evidencethat the housing and manufacturing slumps have not yet infected thebroader economy. The general health of the economy bodes wellfor commercial real estate markets and implies that employmentdemand is going to continue unabated. We also continue to seehiring activity across every sector including the multifamilysegment, which continues to benefit from weak housing sales.Overall, confidence appears to be strong, once again proof thatcommercial real estate is all about the fundamentals.
Tony LoPinto is CEO of Equinox Partners, an executivesearch firm specializing in the real estate industry, and parentcompany of SelectLeaders. The views expressed in thisarticle are the author’s own.
![]()
![]()
![]()
|
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.