Happy New Year – Do you have 2020 Vision?
We are in a New Year and a New Decade. The start of a new decade is an exciting time.
There are as many questions as there are some unknowns:
- How will the US economy react to the presidential elections coming up this November? Where are the interest rates going? Maybe negative interest rates are on the horizon?
- The inverted yield curve which appeared last year. Will it still be here this year?
- The trade tariffs have been in place for a while; the effects from them are starting to surface.
- The current administration still has not acknowledged a recession. We will know soon if it is here.
- The current administration will do whatever it can to make everything appear to be rosy in the US this year.
- The housing trends are changing for the millennials they are deciding to shift from renting to buying. The baby boomers are staying in their houses longer and are moving.
- Overall the real estate trend is on a holding pattern if you are renting or own your property. Are you staying put? This means less real estate transaction and less appraisal work.
- What will be the long term prognosis for brick and mortar stores and shopping malls. The landscape of internet (online) shopping has been increasing, and the delivery time to your door has decreased.
- Over the next few months, it will be interesting to see how the US economy and the Global economy performs.
Time will tell, if only we really could have 2020 vision for the next decade.
President, Coast Appraisers and Consultants Inc.