National Trends, RPN Markets and NYC’s Hudson Yards in the Spotlight
New York City group hosted RPN CEO, Rick Lackey as this month’s presenter. He opened his presentation with a review of six national trends affecting the real estate market: Millennials, Public Transportation, Industrial, Rules & Regulations, the Impact of the Trump Administration, and Eds & Meds. He next highlighted hotspots, growth points and challenges present in each city within the focus of the REAL Professional Network. Although each community has its own dynamics based on its industries, population and market trends, the industrial segment appears to be white hot across the country. Dallas is the clear leader across the real estate spectrum, and NYC, Miami, Philadelphia, and Northern NJ are growing in several segments. Detroit, the newest addition, has grown back its automobile industry and created a vibrant downtown. Rick also pinpointed several trouble spots within the Washington, DC, North Carolina and Pittsburg markets — each affected by various political and demographic issues.