Hallmark brokers gathered for the NAI Global Quarterly Market Outlook webcast with speakers Jay Olshonsky, NAI Global President and Dr. Peter Linneman, NAI Global’s Chief Economist.
Economic uncertainty discourages economic activity, and according to Dr. Peter Linneman, NAI Global’s Chief Economist, uncertainty remains above average. Linneman shared his observations during NAI Global’s Quarterly Market Outlook webcast with 660+ Members and clients registered. While GCP and GDP per capita are at an all-time high, there is a huge gap between actual vs. trend real GDP, representing $2.3 trillion and 18 million workers without jobs. The gap is caused by underproduction of single- and multi-family homes, under-repaired and maintained homes, and under production of autos. Linneman states that the gap is due to overall economic uncertainty caused by uncertain tax, economic and regulatory policies. However, when we see that gap start to close, the US is poised to move from a “dark era” to a “golden era” of growth.