There is a little bit of everything here. We have an economic forecast from an institutional real estate company, shedding light on the areas growth prospects and real estate market. The expert forecaster is Richard Golod, who is the Director of Global Investment Strategies for Invesco, headquartered out of Texas. They are a former client of mine while I worked at CBRE. Golod says what we have been seeing and saying for South Florida’s economy, that things will continue a steady climb upwards, mentioning government, corporate and consumer spending increasing. He likes the prospects for the US investment market, is lukewarm on Europe and recommends avoiding emerging markets. He thinks that real estate will be the biggest driver of the South Florida economy, citing residential sale statistics. He pointed to the fact that 63% of the residential sales in December were cash deals, fueled by foreign investors from South America, Europe and Asia. We have talked about that quite a bit here, and also about the fact that right now the largest yields can be had in real estate. It all sounds good, assuming the next jobs report looks good. If it doesn’t, we might be backsliding a bit. We will see soon, but have to ride this wave of good tidings while we can! Plus when it is 80 degrees and sunny outside, it is easy to be optimistic. Try and have lunch or dinner outside today. You will be glad you did. As always thanks for reading and have a great day.
Investment strategist has bright outlook for South Florida
http://www.miamiherald.com/2014/02/18/3943959/investment-strategist-has-bright.html
Orin Rosenfeld
President
Rosenfeld Realty Advisors
9858 Glades Rd. Suite 209
Boca Raton, FL 33434
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