The Urban Land Institute’s annual look at the year ahead focuses on technology and transformation at an uncertain moment
It’s complicated. In the course of compiling its annual Emerging Trends report, the Urban Land Institute found that the only certainty in its outlook for 2019 was uncertainty. Expert analysis points to a more complex, multi-layered series of overlapping trends, with unpredictable results, as opposed to a few strong narratives.
Will technology offer more opportunity and enhance competition and efficiency, or help consolidate the industry and drive out smaller players? How will shifts in demographics and shopping patterns challenge current investment practices? Will the U.S. ever get a grip on its housing affordability issues?
The report, a joint project of ULI and PricewaterhouseCoopers researchers unveiled during its fall meeting in Boston this afternoon, considered the responses of more than 750 real estate professionals in creating an high-level overview of the trends it believes will impact the real estate world. While the report expects an overall economic slowdown next year, emerging trends and markets in flux that could provide new opportunities.
Here are the broad trends and innovations expected to shape the real estate industry next year.
Grappling with a transformative moment
While vague, predicting a year of significant transformation only reflects the climate of uncertainty and possibility that’s settled over the market. This year alone, the homebuying market was expected to be the most competitive in history before buyers pumped the brakes later in the year. 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.”
One of the most far-reaching changes rewriting the way real estate professionals do business has been the rise of industry-specific technology, startups, and better and more transparent analytics. In many cases, capital is following fintech, or financial tech, leading to more efficient—and automated—transactions.
Read the full story HERE >>> Source: Curbed https://www.curbed.com/2018/10/10/17959984/real-estate-trends-2019-housing-affordability-investment