The latest report from Ten-X Research shows that the labor market is driving the U.S. economy as commercial real estate expansion moves into a late stage in the cycle.
Consumer spending is on the rise, wage growth is stuck and month job gains have averaged 176,000 to date, according to some key insights from the recent report. The report examines industry data through mutlifamily, office, retail and industrial sectors. The report details findings such as low homeownership levels and skyrocketing rent rates. Office-using jobs are at a record peak but demand is pressured by shrinking use of space. In retail, supply and demand appear to be on pace and in the industrial sector, a 9 percent vacancy rate is being predicted for 2021.
To access the full report, email the research team at [email protected]. For further analysis and insight on the last U.S. economic trends visit the Ten-X blog for a recap of the company’s mid-year webinar.
