Kevin Thorpe
@KThorpeView
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Global Chief Economist @Cushwake. Award winner for most accurate economic forecast, and someone who pretends to know what the M2 Money Supply actually means.
Washington, DC
Joined August 2017
#COVID19 has elevated the narrative of the “resurging burbs.” #CRE #economy #coronavirus #millennials @CushWake
https://t.co/DSUtd1K1sb
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Here is a look at #COVID-19 trends along with models showing the #economic impact on property market fundamentals. @CushWake #CRE #economy #coronavirus
cushmanwakefield.com
As a global leader in the commercial real estate (CRE) industry, Cushman & Wakefield offers clients a new perspective on COVID-19’s impact on CRE and beyond, preparing them for what’s next.
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While we don’t yet have Q1 #CRE data, we’re keeping a close eye on the supply pipeline and the potential impact on vacancy rates and leasing activity around the world. Read more >>
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Governments around the world are turning increasingly aggressive to combat COVID-19 and cushion its economic impact, including monetary and fiscal policies. Read more >>
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While GDP forecasts are being revised downwards, most economist still assume that economic activity will accelerate in the second half, albeit with a more tempered rebound than previously thought. Read more >> https://t.co/Pi2thGPtK4
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Developments are extremely fluid, and uncertainty remains regarding how broadly the #coronavirus will spread and what the impact will be on public health, the #economy, #financial and #CRE markets. @CushWake
https://t.co/3uE1pf7WbG
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The core of the U.S. economy remains solid - see chart. Timing the market with perfect precision is often a fool's errand. Stay focused on the fundamentals. @Cushwake
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Would add that the prime working age cohort is still growing in NY. So many retirees are moving south, yes, but importantly for #CRE, NY’s workforce is still growing. @CushWake
Dont be fooled - this trend has existed for some time. #NYC relies on #international migrants for population growth. More cities than you'd think will over the next 10 years. @dcs_3 and I did a study in 2017 on this. #CRE #realestate #migration
https://t.co/CvmJoUxsS6
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US retail sales up 3.4% y/y in June - great report - telling us U.S. economy still has plenty of juice. Those who argue Bricks & Mortar stores are dying could not be more wrong. Ecommerce has been around for 2 decades & stores still capture 91.5% of total spend. @Cushwake
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Fed Chairman Powell said the economic outlook hasn’t improved since officials signaled in June the possibility of lower rates, raising the possibility of a rate cut this month https://t.co/vSTn28c4jh via @WSJ
wsj.com
Federal Reserve Chairman Jerome Powell sent a strong signal the central bank could cut interest rates this month by highlighting how the economic outlook hasn’t improved recently. He also said he...
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Biggest takeaway: global slowdowns are uncomfortable, yes, but they are also necessary, and they often yield benefits to commercial real estate. @CushWake
Still good, just not 'as' good. Check out our view on the global #outlook and what that means for #CRE. #property #markets #RealEstate #Forecast @CushWake @CushWakeUS @KThorpeView
https://t.co/fjVVF7xHzd
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Reporting back: The US economy has clearly downshifted but still expanding. The latest data on manufacturing, trade, job growth - all slower. Nothing here to dramatically alter #CRE fundamentals yet which are still healthy but keep an eye on what the Fed does next. @cushwake
We will learn a lot about the state of the US economy this week: Manufacturing data today, vehicle sales data tues, trade data on thurs, and jobs data on Friday. The Fed also making a number of speeches. Will try to make sense of it and report back end of week. @Cushwake
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