Name & Title: Brian Sahn
Company Name: Forchelli Deegan Terrana LLP
Address: 333 Earle Ovington Blvd., Uniondale, NY 11553
Social Media: https://www.linkedin.com/in/brian-sahn-bba3882/
What market trend(s) will impact your industry in 2019?
The road ahead for real estate in 2019 is shaping up to be unlike any in recent memory. There are a number of global and local factors that point to growing concern and uncertainty that stand to significantly impact commercial and residential real estate. The concerns may spell unusual shifts in the market place, and will certainly give opportunity to some and trouble to others.
One issue on the horizon are rising interest rates that correspond to rising mortgage rates. The result is that buyers will have to evaluate their purchasing power as their dollars are stretched. The affordability quotient could be further impacted by stagnating wages in the employee marketplace.
Housing inventory will influence affordability. Developers have reason for concern, due to rising construction, supply and labor costs, and in other places, local resistance to multi-family developments and over regulation can impede increasing supply. (*extra copy if you have room)