Magazine article Journal of Property Management

Five Trends for the New Year: What's in Store for '04?

Magazine article Journal of Property Management

Five Trends for the New Year: What's in Store for '04?

Article excerpt

At the recent annual meeting of the Association of Foreign Investors in Real Estate (AFIRE) in Washington, D.C., economics forecaster Susan Hudson-Wilson, CFA, cited several trends impacting both commercial and residential real estate.

* Retail: Big-Boxes Invade the Local Mall

With the advent of the Cartveyor (an escalator designed to transport shopping carts between different levels) traditional department stores will be replaced by value and big-box retailers.

"Stores can move into infill locations where the spending power ... is more concentrated," Hudson-Wilson said.

* The "Next" Home: Warmth, Scenery, Escape

Retiring baby boomers, who have likely moved several times in their business careers, will be undeterred by the prospect of moving to their "next" home. Without the need to be near schools and large employment centers, retiring boomers will head for locales combining warmth, mountains, ocean and proximity to a regional airport.

* Apartments: Falling Rents?

Between now and 2006, we're heading toward an oversupply of apartments. While the sizes of the country's two largest renter groups are shrinking, apartment construction is booming. According to the latest U. …

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