ULI forecasts high levels of uncertainty when it comes to technology, demographics, and affordability
By Pro Builder
The Urban Land Institute’s real estate trend predictions for 2019 include high levels of uncertainty when it comes to the impact of technology, demographics, and affordability, on the real estate market.
Curbed reports that the group predicts that technology, including increased use of artificial intelligence, will likely contribute to changes in both construction and home sales in 2019, though their exact implementation is unclear. In addition, multi-family developers will continue to get creative with amenities in an attempt to attract tenants. Cities and developers will also be forced to deal with a dire housing affordability crisis and demands for sustainability in the industry.
After years of steady growth and low interest rates, many observers anticipate a correction, especially in the face new technology, generational and demographic changes, the rise of new markets, and the continued winding-down of traditional retail. One survey respondent described the feeling of “coming off a peak,” and others have said the “low-hanging fruit has been picked.”