NAIOP South Florida, the Commercial Real Estate Development Association, kicked off 2020 with its annual Economic Outlook. Hosted by Berger Commercial Realty at the new 550 Building and moderated by Butters Realty & Management Executive Vice President Darcie Lunsford, Economic Outlook presented insights and predictions for 2020 from an esteemed panel of experts.
Panelists included: Square2 Capital Principal Jay M. Caplin; Link Industrial Properties Managing Director of Southeast Investments Clifton H. Coffey; Stiles Chief Investment Office and Board Director Rocco Ferrera; Duke Realty Vice President of Leasing and Development and NAIOP South Florida Board of Directors President Stephanie Rodriguez; and Wells Fargo Senior Economist and Managing Director Mark Vitner.
“There are two major areas that we should consider going into 2020,” Vitner said. “The first is the emergence of data as a currency – any purchase made online is not only an exchange of funds, but it is also an exchange of information that can be just as valuable as the financial transaction. The second is the worsening imbalance between housing costs and income for most Americans. Increased cost of construction and the shortage of housing inventory has caused property values to skyrocket. Lack of affordable housing options affects workers, which in turn affects businesses and the greater economy.”
Panelists also gave their takes on topics ranging from GDP, the state of the real estate cycle, the economic impact of the presidential election, commercial real estate trends in 2020, the impact of trade wars and tariffs, negative interest rates and more.
For upcoming NAIOP South Florida events, visit www.naiopsfl.org.
