January 2021 Macro Indicators
LaSalle Research - Narrators: Jacques Gordon, Global Head of Research & Strategy and Dan Mahoney, Managing Director &Investment Strategist Our January Macro Indicators deck provides a summary of relative real estate performance in 2020 and an update on the pandemic, vaccine, and financial market indicators likely to drive real estate demand and pricing in 2021. The tug of war between long- and short-term drivers is itself driven by expectations for permanent vs. temporary pandemic impacts. These expectations will drive movements in the yields, prices, and indices we track each month. These macro themes are also the focus of the 2021 edition of the Investment Strategy Annual (ISA). We highlight five key ISA themes for real estate investment in this Macro Indicators deck: Expect the dispersion of sector returns to continue Invest in the rise of alternatives Anticipate changing mobility and density preferences Differentiate and separate permanent changes from temporary shifts Balance three styles: growth, income, and dislocation