International real estate expert Dr. Ted Jones recently shared his insight as part of October Research’s 2023 Economic Forecast webinar series.
Delving into broad housing issues and the mortgage market, Jones examined topics like what will happen next with interest rates, projections for home sales, mortgage lending volume and changes in home values.
Jones outlined variances between different states’ business tax models, identifies current fastest-growing metropolitan areas, provided a detailed residential lending forecast and shows what property types he expects to thrive in the market.
“Goldman Sachs says we’re not going to have a recession this year, but they also say we’re not going to have any increased revenues, net profits in the stock market,” Jones said during the webinar. “Their statement is GDP growing a little less than 1 percent with the stock market having an 11 percent decline. That, folks, is a scary number.
“Every sector is different. In commercial real estate right now, you look at industrial properties as the big winner. We used to buy everything in a store, but now, almost 20 percent of our goods come from online sales. Those come from industrial facilities.” The roughly 30-minute discussion can be accessed here.