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Top real estate execs are guardedly optimistic on US real estate, but wary of how developments in the broader economy might impact the sector, a new survey reveals.
Polling executives in charge of over $700B in real estate investments, a NAREIT-headed group asked respondents to rate their 2016 outlook on a variety of topics on a numerical range from no confidence (0) absolute confidence (100).
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Overall, the executives weren’t quite as optimistic as many economists in terms of job growth in 2016, but remained confident US real estate would remain a safe harbor in an uncertain global economy. (The overall sentiment is roughly in line with a report released by CBRE last month.)
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Here are some other highlights from the survey:
Respondents were wobbly on the global economic outlook, with a 45.3 “Real Confidence” level.
Respondents were almost positive rates will rise again in 2016, with an 80.4 Real Confidence score.
Increased job growth scored only a 49.2...
...although most respondents predicted wages would rise as the economy reaches full employment, with a 61.9 Real Confidence score.
At 75, respondents are confidentMillennial-targeted factors like mobile connectivity, telecommuting and walkability will have a big influence on real estate decisions in 2016. [WPJ]
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