Colliers’ U.S. Research team hosted a webinar on Thursday, June 11th to spotlight the insights of renowned economist, Chris Thornberg, PhD, of Beacon Economics. The engaging 90-minute presentation provided a macroeconomic update with a focus on key real estate sectors and geographies. Key takeaways include:
- Market fundamentals surrounding the Global Financial Crisis (GFC) and Global Coronavirus Recession (GCR) are drastically different and making predictions about GCR from GFC is futile.
- The economy bottomed out in April and a “V-shaped” recovery is expected in phase one of a two phase recovery.
- Optically, the economy appears to be languishing due to the rapid rise in unemployment in the retail and hospitality/travel industries, but fundamentally remains in good shape.
- Office, industrial and multifamily properties will remain relatively unscathed, while the consolidation of the retail industry is being accelerated.
- Consumers are fiscally sound and additional federal stimulus for them isn’t necessary.
In case you missed it, or to revisit the topics discussed, please find the recording here.
Download the full slide deck from the presentation.