Here is the latest analysis by The Counselors of Real Estate of the top ten issue affecting real estate for the remainder of 2021 and into 2022.
What Is the Counselors of Real Estate (CRE)?
This international organization is composed of by-invitation-only property professionals in real estate, finance, the law, and business that provides expertise, thought leadership, consultation, business and financial information and educational services/publication relating to real estate.
Known for innovation, problem solving, meticulous research and the highest ethical standards, CRE is considered to be one of the most trusted real estate specialists within the residential and commercial industry.
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Top Ten Issues Affecting Real Estate 2021-2022
- Remote Work & Mobility
- Technology Acceleration & Innovation
- Environmental, Social, Governmental (ESG) Initiatives at a Tipping Point
- Infrastructure: New Imperative Emerge
- Housing Supply & Affordability
- Political Polarization
- Economic Structural Change
- Adaptive Use 2.0
- Bifurcation of Capital Markets
In many instances, these top ten issues have appeared on CRE’s list in past years. Now these issues may be appearing in different order and/or with a different focus. We’ll briefly summarize just a few of these issues below.
Remote Work & Mobility
The COVID pandemic caused significant disruption in where and how people work and live. CRE believes that virtual accessibility via “…remote working, the acceleration of internet retail, and the demand for larger and more natural spaces…will remain…and impact land uses and locales.”
Since buyers, sellers, landlords and investors must be highly attuned to demand-driven changes in where people choose to live and work, remote work and mobility sits at the top of CRE’s list for 2021-2022.
Technology Acceleration & Innovation
CRE sees tech a bit differently this year than it did in prior years. Rather than being “new,” AI, machine learning, cybersecurity, etc., they are now constants.
The pandemic has pushed aside our reluctance to dive into learning about, understanding and using tech. Now, tech is about “how we do things now;” tech is about “our acceptance of it;” tech is about using tech to and for our advantage. Any space, regardless of where it is or how it was used “before,” is now a potential workspace.
Now tech is about value creation…risk management, generating trust and increasing utilization.
Housing Supply & Affordability
We’ve obviously written about the country’s chronic shortage of affordable housing here. CRE points to the National Association of REALTOR’s® (NAR’s) analysis of the scale of under-building in this country since 2001, but particularly in the last decade, and the existing demand-supply gap are enormous problems.
CRE believes that real estate professionals across the board and “…lawmakers must work to expand access to resources, remove barriers to and incentivize new development, and make housing construction an integral part of a national infrastructure strategy.” CRE calls for an end to NIMBYism and an infusion of affordable housing financing.
Thanks to CRE.
For more information about all of these issues, go to https://www.cre.org/external-affairs/2021-22-top-ten-issues-affecting-real-estate/