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When QE3 Isn't Enough

Chicago

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When QE3 Isn't Enough
University of Chicago economics professor Randy Kroszner, a former governor of the Federal Reserve and member of the President’s Council of Economic Advisers, says it'll take more than QE3 and low mortgage rates to revitalize the housing market. Hear more about economic and political trends from Randy, a featured speaker at Bisnow’s 4th Annual Chicago State of the Markets, Oct. 4, at the Palmer House Hilton. Register here!
 
University of Chicago economics professor Randall Krozner
Dreadful fiscal problems will hobble the Chicago and Illinois CRE market until they’re resolved. Randy feels rising taxes and diminishing services make businesses wary of locating here. Indiana, he adds, is more fiscally responsible. Worldwide, CRE markets face daunting challenges. Growth is slowing in China, Hong Kong, South Korea, and Brazil, and Argentina is volatile. But he points to surprising pockets of strength in Peru and in Columbia, where the nation’s legendary culture of crime is receding. A number of central banks outside the United States have policies to reduce leverage and restrain growth in residential development. Hear more October 4.
 
Reznick (Office) MCHI