Joyce Chang delivers an overview of global economic trends to watch heading into 2023 and beyond.

In the near term, Chang sees a mild recession taking effect in late 2023, with a true “soft landing”, as identified by the Federal Reserve, being unlikely. She notes that overall cycles may be shorter, with a likelihood of 4-year recessions rather than the historic 8 or 10, and markets that rally faster to regain losses.

Included in the long-term outlook are remarks on China’s slowing growth, regions that could benefit from supply chain shifts away from China and nearshoring, and the political divides in the US around ESG (Environmental, Social, Governance) projects and investing.

Richard K. Green also fields questions on the US housing crisis, how rapidly rising interest rates could affect regional banks and nontraditional finance, the implications of a global aging population, and more.

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Lusk Director Richard K. Green delivers highlights from the 2022 Casden Multifamily Forecast Report. 

Before Green gives a breakdown of Southern California multifamily real estate markets, he pauses to discuss four uncertainties impacting the region. Inflation, interest rates, net migration, and the impending recession are all top-of-mind issues that could dilute the forecast’s potency should any of the factors take a dramatic rise or dip.

As for the forecast, Green reviews historical and forecasted data on each market, including overall economic resiliency, net migration since the pandemic began, construction activity, vacancy rates, rent growth, and more. Regions covered include Los Angeles, Orange County, San Diego, the Inland Empire, and Ventura.

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An industry panel discusses the changing dynamics of office work in real estate and beyond.

By now, it’s apparent that some version of remote work is here to stay for a dominant number of firms. Remote and hybrid work can solve serious employee issues like flexibility, commute times, and even productivity. However, the new work arrangements are not without drawbacks. 

Moderator Mary Lynne Boorn (USC Price) invites Allison Lynch (Compass Ventures), Amalia Paliobeis (AvantStay), and Brandi Popovich (SoLa Impact) to bring insights from their unique perspective on hiring and retention, adaptive management styles, office space, and to discuss lessons learned in distributed work environments.

Included in the discussion:

• The new costs of mandating an entirely in-person work week
• How remote environments impact mentorship
• Crucial in-person activities for employees and employers
• Strategies for preserving company culture

Links to mentioned resources:

• The Work/Life Integration Project

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