Real Estate Recovery is All About Job Growth
28 Nov, 2012
In a white paper entitled “Real Estate Recovery is All About Job Growth,” NAI Global Chief Economist, Dr. Peter Linneman, outlines that without a robust job recovery, the real estate market will continue to be slow to recover.
The white paper also addresses the health of the U.S. real estate recovery being tied to the strength and timing of the nation’s macroeconomic recovery and cites “the best news is that single-family and multifamily housing starts finally are on a clear ascent,” Linneman says.
In regard to the economic situation, Linneman says: After peaking in October 2009 at 10 percent (revised), the U.S.unemployment rate stood at 7.8 percent at the end of September 2012, primarily due to 100,000 people leaving the labor force since June. Instead of a robust recovery spurred by the largest peacetime federal spending increase, the economy limps forward under the burdens of excessive government spending and regulatory incursions.”
NAI Global, headquartered in Princeton, N.J., is a leading commercial real estate services provider, with 5,000 commercial real estate professionals and 350 offices in more than 55 countries.
Download the white paper.
Illustration by sscreations at Free Digital Photos.net