By AZ Big Media
It was an uphill battle for CRE in 2023. Higher interest rates, elevated inflation and the threat of a recession all contributed to a year of turbulence and uncertainty. Despite the challenges, the industry demonstrated bright spots of resilience and adaptability. Our experts at Cushman & Wakefield looked at 10 leading questions going into the new year, which offer a glimpse into what 2024 could bring. These questions, along with a shortened version of their answers, include:
- Are major U.S. cities headed for a doom loop?
- No. While facing challenges, cities have proven to be resilient. Net out-migration is now lower in the six U.S. gateway markets than it was in 2018 and 2019. Additionally, after decreasing for five years, international immigration—the key driver of population in large, gateway cities—is back above the 30-year historical average.
Note: Six U.S. gateway markets are Boston, Chicago, Los Angeles, New York City, San Francisco and Washington, DC
- No. While facing challenges, cities have proven to be resilient. Net out-migration is now lower in the six U.S. gateway markets than it was in 2018 and 2019. Additionally, after decreasing for five years, international immigration—the key driver of population in large, gateway cities—is back above the 30-year historical average.
