PriceWaterhouseCoopers and Urban Land Institute recently released Emerging Trends in Real Estate 2011, which indicated that the commercial real estate market will experience an ‘era of less’ throughout the upcoming year.
One of the key points is that America is seeing a return to multigenerational households, where children continue to live with their parents into adulthood because of the sluggish economy and decreased job prospects.B Likewise, parents are moving into homes with their children instead of retirement communities because of a lack of savings.B The year-over-year increase in households from 2009 to 2010 was the smallest since 1947.
Out of different property types, apartments are seen as the best investment in this upcoming climate, followed by industrial, hotels, office, and retail.
The end may be in sight for many industries, but they will all have to cope with this ‘era of less.’B For more information on this report, please refer to Retail Traffic.
Image: EquitySolve.com
Tags: apartments, Emerging Trends in Real Estate 2011, era of less, multigenerational households, PriceWaterhouseCoopers, Urban Land Institute
