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Spring Meeting (April, 2010 in Boston, MA) – quick lessons learned/observations shared by ULI Charlotte Members:
- What will inflation and unemployment look like in 2014? No one can clearly state, there is lack of clarity.
- State of fundamentals are not agreed upon.
- People were ‘calm’ at this meeting, but not excited.
- This Recession is twice a ‘normal’ recession.
- Recovery will come to those areas that didn’t bubble badly.
- Vegas, California, Florida, will take time as they got really hit.
- Corporate earnings must come first, then job recovery will happen.
- Of commercial sectors to recover:
- Multifamily is poised to recover first
- Retail
- Office/Industrial
- Public/private partnerships will dominate future collaborations.
- Right now quality assets in quality markets are getting analyzed.
- The bigger will get bigger, smaller will stay small, middle gets squeezed.
- Rates are expected to move up after November elections.
- The source of economic growth isn’t by physical work or the dirt, we are a knowledge economy – it is the human creativity.
- Some books that were also recommended reading include:
- The Great Reset: How New Ways of Living and Working Drive Post-Crash Prosperity by Richard Florida
- Housing in America: The Next Decade by John McIlwain