2016 Emerging Trends in Real Estatemollygavin
“A crashing Chinese economy, sinking commodity prices, and other factors have made the 2016 economic outlook seem somewhat dismal … But one industry seems to be bucking those negative trends, and still growing after years of positive performance.” 2016 Emerging Trends in Real Estate was just released by the Urban Land Institute, and the future is looking bright. The report outlines the top real estate trends taking shape across the county. They predict “second tier” cities will take center stages, as they offer a better value proposition, growth in the commercial sector as the economic recovery has created more jobs, and that the ‘burbs will begin to make a come back. All bode well for Philadelphia and the surrounding areas.
The report also mentions an increased need for “niche lenders, saying that, “While an increase in activity and investment is a main theme of the report, the paper also suggests a bifurcating lending market is also changing the real estate industry. Bigger projects increasingly require more lead time and more capital, leading many developers to turn towards larger banks. On the flip side, with larger institutions somewhat constrained by recent regulations, more nimble smaller banks and community lenders are increasingly filling the gap.”
With the local market strong and getting stronger, it is safe to say that there is no time like the present to invest in Philadelphia real estate. You can read the full recap from Curbed Philly here.