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Property Market Demand Strong, Construction Levels Rising

Just Right…Goldilocks Economy Bodes Well for Property Demand

The U.S. economy has entered a Goldilocks scenario, one that is not too hot or too cold, but “just about right.” Real GDP is on track to grow slightly better than 2% in 2017, generating just under 2 million net new jobs this year. The economy’s temperature also seems to be “just about right” for consumers. Confidence is hovering at a near-15 year high, retail sales are accelerating at a 5% rate year-over-year and credit is flowing. In addition, the global economy is also firing back up: world nominal GDP growth is expected to be four times greater this year than it was last year, bolstering global trade and business confidence.

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  • U.S. economy maintaining a comfortable, sustainable stride
  • Fiscal policy uncertainty remains, but odds still favor some stimulus (e.g., tax cuts) will be enacted by year-end 2018
  • Rising vacancy rates will be supply-driven for most asset classes, as demand persists
  • Capital markets activity to moderate slightly from 2016 levels but still strong

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