Real Estate Legends: Sage AdviceAugust 24, 2017
To stay or not to stay in California?February 21, 2018
During the “Legends” panel discussion I was asked “What are things that concern you about the market today?”
Here are a few of what I see as potential disruptors to the economy and the industry.
- Uncertainty – It’s not business as usual. We could see big shifts in financial markets & fed policy. We still have no idea if there will be big tax changes. We are in for continued volatility and surprises.
- Adapting for Technology – 3d printing, Airbnb, data centers, robots???
- Demographic shifts and preferences – An aging population and younger workers. In 2015 Millenials surpassed the number of Boomers.
- Our ability to adapt to Globalization (or de-Globalization??) and Geopolitical Risk – The risks grow daily. North Korea may seem the biggest wildcard, but tensions also mount with Mexico, China, and Russia. Immigration reform, including EB-5 program, is a huge potential disruptor.
EY’s Global real estate, hospitality and construction group published a more in-depth article about disruptive forces if you want to dive deeper into the subject.