Magazine article Journal of Property Management

Sustainability Forecast for 2017

Magazine article Journal of Property Management

Sustainability Forecast for 2017

Article excerpt

In preparation for writing this article, research was conducted 011 economic forecasts from each year beginning with 2013.

It became abundantly clear during these reviews that forecasting is subjective and takes a bit of artistic interpretation. As an example, the Federal Reserve has anticipated a rise in interest rates over the last two years. The market has reacted, but the impact from that rate rise has been minor so far.

ACKNOWLEDGING AND ADDRESSING NEGATIVE IMPACT

On the sustailiability front, forecast predictions haven't been realized, and impacts have been understated. Some observations--our world is getting hotter; water supplies are depleted and in some places not drinkable; coral reefs are under siege as a result of climate change; and the food chain is in peril. Our species chooses not to fully recognize how quickly these environmental matters are deteriorating and therefore the issues are perpetuated. Preserving the world we live in--and ourselves--needs to be a major priority. A popular Chinese proverb states, "One moment of patience may ward off great disaster, and one moment of impatience may ruin a whole life." Yet the world is full of regular instances of environmental shortsightedness.

STANDING BY OUR SUSTAINABILITY STATISTICS

Sustainability has become an imperative, as was discussed in depth during the IREM fall conference in San Diego. So much of sustainability is about reporting what we do and statistically creating credibility for our accomplishments. …

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