DTZ, a global leader in commercial real estate services, announced the release of its U.S. Macro Forecast, which predicts positive economic results for the second half of 2015 after a shaky start.
A weakened global economy, a plunge in energy investment, a soaring U.S. dollar and another difficult winter in many U.S. regions took their toll on growth, but real gross domestic product (GDP) still managed to grow 2.7% year-over-year as of the first quarter, a rate that is high enough to sustain commercial real estate demand drivers. Also, job growth is at its highest point in 15 years, and 30% of the new jobs created to date in 2015 were in office-using sectors, with the bulk in professional and technical services. Though the current growth cycle has its inconsistencies, it could surpass the 10-year cycle that spanned from 1990 to 2000, which marks the longest expansion post World War II.
Read more...Macro Forecast Report States Apartment Vacancy Expected to Tick Up as More Units Come Online | MultifamilyBiz.com
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