Sources: Marcus & Millichap Research Services, BEA, Moody’s Analytics
New 2021 Economic Forecasts Increasingly Optimistic
In recent days, more economists have forecasted that 2021 could deliver growth not seen since 1984
This comes as the new administration aims to tackle the pandemic and push for an additional round of stimulus
What Factors Will Influence 2021 Performance?
A third round of stimulus would likely include individual checks and expand/extend unemployment benefits
While the specific amount remains a topic of debate, any of the proposals would help support the economy
More vaccinations and other efforts to contain the virus would also speed up recovery and reduce uncertainty
What Will be the Impact on Commercial Real Estate?
If these initiatives are achieved, it will go a long way in unlocking the trillions of dollars currently in savings
As a result, 2021 could see a rise in travel and spending, supporting Hotels, hard-hit Retail, and even Industrial
This would bring back jobs and allow for new household creation, reviving Office leasing and Apartment demand