2M Left To Employ
We were up bright and early yesterday for the Reis quarterly update at the Marriott Midtown. Here's our good friend Dr. Victor Calanog, with somewhat quirky purple glasses (we think) for an economist. Victor's predictions and insight: We still need to hire close to 2 million workers back to come even with our last peak. (If Fleetwood Mac taught us anything, it's people love a comeback.) If we create 50k jobs/month, we can throw a full recovery party in November 2016. On multifamily: there will be a cap on the ability of landlords to raise rents because wages aren't rising much.