Detroit January 2021- Key Takeaways

• Martin Lavelle with the Federal Reserve Bank of Chicago – Detroit Branch conveyed his information about the economy to the group, including the unemployment and labor force participation percentages.  Globally, supply chains are all over the place with delivery times.  Many businesses still expect to lose money in the next 30 days.
• PEA’s Dan Stys indicated that his company is seeing an increase in the cannabis industry looking for real estate help.
• Brad Rosenberg with Mid-America laid out the retail furniture industry, mentioning Bob’s, Gardner White, Value City, and Love’s.  Love’s is having a mighty struggle financially now having filed for bankruptcy.
• The Sate Bank’s Tom Barrett laid out the numbers, timing and thoughts for the PPP loans.  A lot of discussion about the timing, the payback, forgiveness and PPP2.
• John Godwin reported that Marcus & Millichap is in uptrend and there will be a robust shift in real estate market as the pandemic diminishes.