{"id":19058,"date":"2021-06-28T18:36:15","date_gmt":"2021-06-28T18:36:15","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=19058"},"modified":"2021-06-28T18:36:15","modified_gmt":"2021-06-28T18:36:15","slug":"real-estate-in-2021","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/real-estate-in-2021\/","title":{"rendered":"Real Estate in 2021"},"content":{"rendered":"

Real Estate in 2021<\/h1>\n
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Remote work and mobility are expected to have the most significant impact on real estate over the next year, according to The Counselors of Real Estate\u2019s list. The group identified current and emerging issues expected to have an influence over real estate in the 2021-2022 cycle. Remote work and mobility and its influence over commercial buildings globally was named as the top issue, followed by technology and ESG (Environment, Social, and Governance).<\/p>\n

\u201cThe pandemic was a stress test, revealing vulnerabilities, appetites, and new and increased risks,\u201d says Michel Couillard, global chair of The Counselors of Real Estate. \u201cThese themes present themselves in the 2021-2022 Top Ten Issues, which are highly interconnected and indicative of a newly changed and further evolving real estate environment. We have been awakened to some familiar but nascent areas of importance, namely cybersecurity, supply chain, and price instability. None of these are new concepts, but in a span of months or even just weeks, we saw high profile hacks, shortages of resources like microchips, lumber and labor, and rising prices across the board.\u201d<\/p>\n

Here\u2019s a closer look at the top 10 issues on CRE\u2019s list for 2021-2022:<\/p>\n

1. Remote work and mobility<\/h2>\n

The pandemic greatly disrupted the workplace as many employees began to work remotely\u2014and still are more than a year later. Commercial properties may need to be repositioned as the workplace adapts to more flexible and even shareable spaces.<\/p>\n

\u201cAs we emerge from COVID-19 into a new world replete with local and global disruptions alike, our industry has been forced to recognize that adaptability and resiliency are paramount in real estate markets,\u201d says Couillard. \u201cIt is undeniable that the pandemic\u2019s disruption significantly impacted human behavior in how and where people have chosen to work. Now, with an escalating return to \u2018business as usual,\u2019 and workers beginning to return to offices, landlords, and companies nevertheless are facing repositioning of the workspace and the benefit of easily adaptable and shareable spaces. \u2026. Property owners and managers should be flexible in order to accommodate these demand-driven changes in the desired use and location of space.”<\/p>\n

2. Technology acceleration and innovation<\/h2>\n

The Counselors of Real Estate also ranked the acceleration and adoption of technology as having the second greatest impact on the real estate industry. \u201cThe stressors were not about new tech, but about the acceptance of it,\u201d Coulliard says. \u201cLockdown-driven changes in our work, the economy, in social structures, and in our personal behavior forced the industry to put any earlier reluctance aside.\u201d Growing technology themes include artificial intelligence, machine learning, the Internet of Things, and cybersecurity, the report notes.<\/p>\n

3. ESG at a tipping point<\/h2>\n

Environmental, social, and governance (ESG) initiatives are growing. In 2020, ESG funds more than doubled net new money intakes. \u201cThe growth in recent years is fueled by multiple drivers, including consumer shifts, regulatory requirements, trillions of dollars of wealth transferring to generation Z and millennials committed to philanthropic living, a blurring of work and societal expectations, and a full sprint to attract and retain top talent,\u201d the report notes.<\/p>\n

4. Logistics<\/h2>\n

\u201cWhether it\u2019s a port, rail line, pipeline \u2026 manufacturing facility, warehouse, farm, ranch, or grocery store, all these real estate assets are a critical segment in the supply-chain funnel that is logistics,\u201d the report notes. \u201cHow logistics is functioning impacts the utilization of commercial real estate. Redundancy and the ability to process disruption are two key elements required to support the fast-moving, high-volume requirements of modern-day logistics in the \u2018shop-online-and-deliver-to-me\u2019 era in which we find ourselves.\u201d<\/p>\n

5. Infrastructure<\/h2>\n

The Civil Engineers estimates the U.S. infrastructure funding gap in 2021 to be $2.6 trillion, a 24% increase compared to 2017. \u201cThe COVID-19 pandemic, climate change, and heightened societal interest in social and economic equity have redefined infrastructure imperatives beyond the significant ongoing necessity for improved roads, bridges, airports, ports, mass transit, and other traditional infrastructure needs,\u201d the report notes. A proposal on Capitol Hill sets out to allocate $110 billion in new spending to bridges and roads, $65 billion to expanding access to broadband, and $48.5 billion to public transit, and more. Stay updated here: NAR resource page on transportation and infrastructure in real estate<\/a><\/p>\n

6. Housing supply and affordability<\/h2>\n

The National Association of REALTORS\u00ae and the Rosen Consulting Group released a report last week calling for a \u201conce-in-a-generation\u201d response to address decades of underinvestment and underbuilding in the housing market. The nation has faced a shortfall of 5.5 million to 6.8 million housing units since 2001, according to the report. Housing groups are calling on lawmakers to expand access to resources, remove barriers to incentivize new development, and more. Read more from NAR\u2019s report on this: \u2018The State of America\u2019s Housing Stock Is Dire\u2019<\/a><\/p>\n

7. Political polarization<\/h2>\n

\u201cPolitical friction is holding back America\u2019s economic productivity,\u201d the report notes. \u201cWe are squandering resources as we try to address problems that arise from the partisan divide rather than problems confronting us as common issues \u2026. And the real estate industry\u2019s well-being is a function of our economic growth.\u201d<\/p>\n

8. Economic structural change<\/h2>\n

Economic growth is mostly an unknown. As the report notes, how do we assess the real potential of the economy for sustainable growth? What numbers indicate a true trend and which are merely adjustments from the low bottom of the second quarter of 2020? Which behavioral changes made by U.S. households in the pandemic will persist? The ability for businesses to anticipate what\u2019s next is met with challenges. For example, \u201ceven though real estate investors may reasonably expect an uptick in demand in the coming year, the ability to anticipate when occupancy and rent will rise frustrates underwriting,\u201d the report notes. \u201cWe are observing many investors increasing their focus on property management aimed at retaining tenants and defending cash flow, while selectively seeking \u2018value-add\u2019 properties amenable to active asset management. The thinking is \u2018focus on what you can control\u2019 during this period where macro-level uncertainty is the governing headwind at the policy level in terms of the structural problems in this economy.\u201d<\/p>\n

9. Adaptive Reuse 2.0<\/h2>\n

The term is not new but the focus is getting bigger. CRE refers to Adaptive Reuse 2.0 as \u201cThe Neighborhood Approach.\u201d It aims to address the challenges of what to do with defunct suburban malls and thousands of empty big-box retail stores that are surrounded by desirable and affordable neighborhoods. It requires a re-examination of suburban communities in repositioning and transforming areas that could be at risk for blight. A number of projects have been completed or are underway to help reconnect communities, prevent blight, and restore green space.<\/p>\n

10. Bifurcation of capital markets<\/h2>\n

Debt capital markets have been volatile since the pandemic, namely public markets like commercial mortgage-backed securities, mortgage REITs, and agencies such as Freddie Mac and Fannie Mae. \u201cMortgage REITs took a significant hit early in the pandemic, with some recent recovery driven by restructuring credit lines and paying down credit facilities that experienced margin calls,\u201d the report notes. Still, the \u201cmarket continues to be flush with debt capital liquidity, despite property type and market uncertainty. Looking out to the remainder of 2021 and into 2022, performance will dictate the amount of distress and losses, and risk management should dictate markets, property types, leverage, loan structure, and pricing for mortgage debt. The next year should also tell us if commercial real estate debt was too rich and whether perceived risk underestimated where pricing should have been.\u201d<\/p>\n

Learn more about each of these issues: Cre.org\/topten<\/a><\/p>\n

\u00a9National Association of REALTORS\u00ae
\nReprinted with permission<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Real Estate in 2021 Remote work and mobility are expected to have the most significant impact on real estate over the next year, according to The Counselors of Real Estate\u2019s list. The group identified current and emerging issues expected to have an influence over real estate in the 2021-2022 cycle. Remote work and mobility and … <\/p>\n

Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-19058","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"\nReal Estate in 2021 - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/real-estate-in-2021\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/real-estate-in-2021\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/real-estate-in-2021\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"Real Estate in 2021\",\"datePublished\":\"2021-06-28T18:36:15+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/real-estate-in-2021\\\/\"},\"wordCount\":1240,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/real-estate-in-2021\\\/\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/real-estate-in-2021\\\/\",\"name\":\"Real Estate in 2021 - 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