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!
 
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.
 

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Chicago Newsletters
Related Stories

California Investor Scoops Up Amazon Warehouse: The Chicago Deal Sheet

How Crystal Lake 'Connects The Dots' To Building Complete Community

Downtown Atlanta Improvement Group Picks Food Bank Chief As Next Leader

Trump's DEI Crackdown Is Creating New Risks For Landlords That Lease To The Government

Brandon Johnson Seeks Second Term Amid Strained CRE Relationship

Prologis Acquires 69 Acres For 1M SF Chicago-Area Industrial Development

Former CBRE Exec Suing Brokerage Giant Over Age Discrimination, Whistleblower Complaint

D.C. Investor Behind The Stacks Swaps CEO For First Time In 25 Years

First LaSalle Street Reimagined Conversion Opens In Chicago's Loop

CBRE IM Buys Net Lease REIT For $1.6B, Plans More Investment

The Difference Between Service And Hospitality That Makes A Flexible Workspace A Success

Beyond The Boom: How Miami's CRE Market Continues To Be Resilient