2024 U.S. Macro OutlooK REPORT

A Rolling Recession is Here

Amid a rapidly changing economic landscape, the 2024 U.S. Macro Report provides a comprehensive analysis of the current state of the U.S. economy, delivering a bird's eye view of the potential challenges and opportunities that lie ahead.

 

KEY TAKEAWAYS

 

Economy

Despite the robust performance witnessed in 2023, there are many leading indicators flashing caution lights for the journey ahead. Indeed, a rolling recession has begun in certain segments of the U.S. economy.
>> ACCESS THE OUTLOOK FOR THE ECONOMY External Link

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Office

The transition to hybrid work continues, with important nuances that need to be understood by investors and occupiers alike. Our outlook suggests, however, that the continued reduction in demand is likely to subside soon, which could open new doors for those equipped with the right knowledge.
>> ACCESS THE OUTLOOK FOR OFFICE

 

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Industrial

A process of normalization has begun in the industrial sector. Although slowing, demand will remain positive with vacancy anchored at historically low levels despite a supply boom. What this means for rental growth has important implications for both occupiers and investors.
>> ACCESS THE OUTLOOK FOR INDUSTRIAL

 

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Multifamily

As the wave of supply begins to recede, the multifamily sector is showing signs of strengthening fundamentals. An expected decrease in new construction projects, along with evolving economic and demographic factors, will present new opportunities for savvy investors.
>> ACCESS THE OUTLOOK FOR MULTIFAMILY

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Retail

The retail sector, despite facing headwinds, is expected to show resilience and adaptability. Limited supply in the market is likely to prevent a significant increase in vacancy rates, suggesting a potential safe harbor amidst the storm.
>> ACCESS THE OUTLOOK FOR RETAIL

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Capital Markets

When it comes to capital markets, property values and transaction volumes are likely to witness further challenges. Yet, even in this environment, investors are preparing for the anticipated pivot by the Federal Reserve. The spotlight is shifting toward income and operational efficiencies, signaling a need for strategic elevation and enhanced risk assessment.
>> ACCESS THE OUTLOOK FOR CAPITAL MARKETS

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Niche Sectors

No longer viewed as peripheral or niche, alternative assets are now commanding the attention of institutional investors. The forceful tailwinds propelling this change are notable, signifying the increasingly crucial role alternatives are playing in portfolios.
>> ACCESS THE OUTLOOK FOR NICHE SECTORS