Now Available from Cushman & Wakefield: U.S. Macro Outlook for 2023 Report
The economy entered 2023 with a cloud of uncertainty stemming from decades-high inflation, rising interest rates, and warning signs for a potential recession. While there is plenty of evidence to suggest a tougher road ahead — we are expecting a mild recession to occur in 2023 — the outlook is balanced by resilience in certain sectors and more challenging headwinds in others. In this report, we break down our baseline economic forecast and the nuanced implications it will have on CRE property sectors over the next couple of years.
- Economy – The U.S. economy will experience a mild recession that starts in 2023.
- Office – The age of trifurcation is here; strong demand for high-quality space and not enough of it.
- Industrial – This is the year fundamentals will finally start to rebalance.
- Multifamily – Looking past the near-term headwinds, the other side is strong.
- Retail – No sector is immune, but retail enters 2023 with strong demand drivers.
- Capital Markets – The good news is there has already been a lot of bad news.
- Niche Sectors – Specialized sectors are becoming increasingly important to real estate investors.
Later this year, look for an updated report with our latest insight on these key topics.
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