In the latest Reis Quarterly Briefing, Vice President of Research and Economics, Dr. Victor Calanog, discusses what’s driving the economy and the real estate markets these days, and where they both may be headed. Over the next few days, we will share highlights from that briefing beginning with some macro economic trends.
The Economy- It’s different this time around
One need only look around to see that economic growth in the first half of the year has been sluggish. GDP has remained frustratingly low; with the first quarter rate coming in at just 2.0% followed by preliminary second quarter growth of just 1.5%. To make any traction, these numbers would need to come in at around 2.4% to 2.5%. Missing is the boost that traditionally comes from the housing sector, which continues to be a drag on the economy; and consumer spending, which has been anything but robust.
Read more...Fasten Your Seat Belts | ReisReports
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