Jonathan D. MillerIt's aproblematic time where figuring out where markets are going becomesespecially difficult. The economic recovery has been relativelyweak, but sustained. The official unemployment rate is about haslow as it ever goes, but wage growth has been anemic and manyAmericans are falling behind as they pay more for healthcare,receive fewer benefits, and face higher taxes, especially at thestate and local levels (property and sales taxes as well as variousfees for services go up, up, up). The primary election resultspoint to the economic uneasiness lacing the country—Trump andSanders voters see the deck stacked against them—older white bluecollar voters think they are losing ground, while the youngercohort faces obstacles in setting a successful future course—highstudent debt is just one of them. The world scene looks especiallydicey—when economies go south (China, Russia, Saudi Arabia)governments seek conflicts to distract their restive populations.The UK possibly abandoning the EU and the ongoing migrant crisisleave an already weakened Eurozone on edge. The bubble has poppedin Brazil, and India is endless hype. Overlay all of this turmoilwith the threat of Islamic terror and add in a dash of climatechange with a bit of Zika virus, and the recipe looks like a stewfor dragging down global growth.Jonathan D. MillerIt's aproblematic time where figuring out where markets are going becomesespecially difficult. The economic recovery has been relativelyweak, but sustained. The official unemployment rate is about haslow as it ever goes, but wage growth has been anemic and manyAmericans are falling behind as they pay more for healthcare,receive fewer benefits, and face higher taxes, especially at thestate and local levels (property and sales taxes as well as variousfees for services go up, up, up). The primary election resultspoint to the economic uneasiness lacing the country—Trump andSanders voters see the deck stacked against them—older white bluecollar voters think they are losing ground, while the youngercohort faces obstacles in setting a successful future course—highstudent debt is just one of them. The world scene looks especiallydicey—when economies go south (China, Russia, Saudi Arabia)governments seek conflicts to distract their restive populations.The UK possibly abandoning the EU and the ongoing migrant crisisleave an already weakened Eurozone on edge. The bubble has poppedin Brazil, and India is endless hype. Overlay all of this turmoilwith the threat of Islamic terror and add in a dash of climatechange with a bit of Zika virus, and the recipe looks like a stewfor dragging down global growth.

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Jonathan D. Miller

A marketing communication strategist who turned to real estate analysis, Jonathan D. Miller is a foremost interpreter of 21st citistate futures – cities and suburbs alike – seen through the lens of lifestyles and market realities. For more than 20 years (1992-2013), Miller authored Emerging Trends in Real Estate, the leading commercial real estate industry outlook report, published annually by PricewaterhouseCoopers and the Urban Land Institute (ULI). He has lectures frequently on trends in real estate, including the future of America's major 24-hour urban centers and sprawling suburbs. He also has been author of ULI’s annual forecasts on infrastructure and its What’s Next? series of forecasts. On a weekly basis, he writes the Trendczar blog for GlobeStreet.com, the real estate news website. Outside his published forecasting work, Miller is a prominent communications/institutional investor-marketing strategist and partner in Miller Ryan LLC, helping corporate clients develop and execute branding and communications programs. He led the re-branding of GMAC Commercial Mortgage to Capmark Financial Group Inc. and he was part of the management team that helped build Equitable Real Estate Investment Management, Inc. (subsequently Lend Lease Real Estate Investments, Inc.) into the leading real estate advisor to pension funds and other real institutional investors. He joined the Equitable Life Assurance Society of the U.S. in 1981, moving to Equitable Real Estate in 1984 as head of Corporate/Marketing Communications. In the 1980's he managed relations for several of the country's most prominent real estate developments including New York's Trump Tower and the Equitable Center. Earlier in his career, Miller was a reporter for Gannett Newspapers. He is a member of the Citistates Group and a board member of NYC Outward Bound Schools and the Center for Employment Opportunities.

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