The Fall Urban Land Institute (ULI) Conference– Sept 2019 in Wash, DC– addressed the current status, but mostly the future trajectory of topics such as PropTech, Retail, Retaining Talent, and the yearly issuance of Emerging Trends.
- PropTech– Abundant apps and programs to manage leasing, portfolio management, sales, and even tokenization will further alter how real estate is traded and managed.
- Retail- Consistently revamps to meet e-commerce challenges will result in less malls and shopping centers, with the successful ones offering more entertainment choices and lifestyle enhancements.
- Retaining Talent– Competition to hire and retain talented employees continues with many discussions about the affect of office design on the environment and employee morale.
- Emerging Trends 2020– To summarize the issuance of this yearly publication that is a compendium of interviews with ULI professionals in many sectors — Real estate investors face a changing world, with a rising risk of recession in the short term and, over the long term, a slower rate of economic growth. Despite anxieties, U.S. real estate is still a favored place for investors from all over the world to invest their capital. They foresee possible 2 percent growth over the foreseeable future of 5 to 10 years. The forecast cites adaptability to change along with discipline as key factors in the industry’s ability to withstand an economic downturn and the possibility of softer real estate demand. The top markets for real estate investors: Austin ranked first out of 80 U.S. cities for overall real estate prospects for 2020, followed by Raleigh/Durham, Nashville, Charlotte, and Boston. The Emerging Trends report also minted a new word to describe a particular kind of real estate market desirable to real estate investors: “hipsturbia” — suburban markets that are creating their own version of live/work/play environments with examples such as Brooklyn, Evanston, Illinois, and northern New Jersey. A current recession is unlikely, but potentially over the next year.
Tags: Merrie Frankel, Merrie S. Frankel, #MerrieFrankel, #ULI, Minerva Consulting, REITs and Rating Advisory, PropTech