Real Estate’s 2013 Pivot Points: Interest Rates, Gen Y, Health-Care Demand
Kris Hudson | Wall Street Journal | June 5, 2013 | link
ATLANTA — Low interest rates, increasingly aggressive lending and Generation Y’s housing preferences are among the top factors shaping the U.S. real estate market this year, according to a group of leading real-estate experts.
The Counselors of Real Estate, a Chicago-based global association of hundreds of real estate professionals and advisors, released the list Wednesday at the annual conference of the National Association of Real Estate Editors in Atlanta. The group conducts a survey of hundreds of its members each year to compile a ranking of the top 10 factors influencing real-estate markets.
The association’s chairman, Howard Gelbtuch, outlined the 10 factors in order for an audience at the Hilton Downtown Atlanta.
No. 10: Retail malaise and repositioning. While retailers and malls have withstood the growth of online shopping better than many observers expected, the mall industry increasingly is dividing into a handful of dominant properties in each city and several also-rans. Those struggling properties will need to be redeveloped at great cost.
No. 9: Impact of technology on office space. Companies’ need for office space is declining on the basis of square feet per employee as more workers telecommute from home or elsewhere. Read more…