OUTLOOK FOR ELECTION YEAR 2020: POSITIVE … BUT WITH SLOWER GROWTH
In their own words, our industry’s collective wisdom believes it will be more difficult to compete for deals and talent in 2020 resulting in slower growth. The outlook for 2020 is overwhelmingly positive, but the legacy from the Global Financial Crisis remains, and our industry continues to run lean, preventing the surges in hiring expected in a market this hot. In 2020 this is exacerbated by “too much capital”. Too much capital chasing deals. And, starting in late 2019, for the first time in years, capital chasing talent, adding to the difficulty to compete in this hiring environment. The rise of New Growth Cities, where deals are traditionally done at a slower pace, also factors into the positive prediction for growth, but slower growth. Retail generated the most negative responses, but others believed it is the forefront of an evolutionary and historical time in retail with new blood entering the marketplace. A new issue arose: As lawlessness and runaway crime continues not to be enforced, it destroys markets. Another concern: As a finance executive, I am a bit concerned with some of the assumptions driving transitional loans and the significant amount of capital raised for this strategy (especially late in the cycle).
The pervasive outlook in your own words:
“More competition on deals in a low interest rate environment. Difficulty finding strong candidates in a low unemployment rate environment. Longer time to close a deal by working with less experienced local sponsors looking for institutional capital providers.”
Other respondents added:
“Excess capital in the market continues to make deals difficult to pencil. Continued escalating costs for construction has compounded the issue.”
“Strong RE market, not overbuilt, financing still doing solid underwriting and economy continues to grow, so job growth will continue as well, but not at a record pace. Still a good year for employment.”
“2020 should be another good year for CRE but most employers still remain cautious on committing to hire new team members.”
“More retail bankruptcies and closures but continued economic growth.”
In 2019, compensation increased for 58% of our survey.
28% received an increase of more than 20%.
28% received an increase of more than 10%
64% of our survey received a bonus in 2019.
“I’m personally seeing compensation for new hires increasing by 20-40% over the previous incumbents. It’s the first time in five years I have seen the opportunity to earn substantially more by leaving than staying and getting promoted.”
70% expect their compensation to increase in 2020.
79% of respondents would consider a career move in 2020.
“Today’s low to mid-level CRE employees seem to want constant change and it is difficult to provide that continually over a long period of time. I think it will remain difficult to find and retain the best talent.”
“Firms will continue to try and underpay and will lose people.”
“Retail is at a crossroads. As a Retail Real Estate Professional, I feel that this evolution has and will give rise to a tremendous amount of business, and new blood so to speak entering the marketplace. We are now in the fore-front of an evolutionary and historical time in retail.”
51% would consider relocating in 2020.
“We’ll see continued relocations from high-tax states to more business-friendly environments.”
“Lawlessness & willful denial needs to end for people to feel safe. If runaway crime in sanctuary areas continues not to be enforced, it destroys our markets… especially the longer it continues.”
“More opportunities to work remotely would be helpful in this field.”
59% said their company had difficulty finding hires in 2019.
“I am a recruiter and I expect hiring to be increasingly difficult in 2020. Human Capital will be the most sought-after resource in 2020. Unemployment is currently at a 50-yr low. It will get even tighter in 2020. I predict continued wage growth as employers seek to recruit and retain top talent.”
“Most employers are under-hiring, forgetting that the real cost of a hire, is whether or not they are contributing to P&L. I’ve yet to see a company grow, with H/R with limited talent.”
“At a certain age, seems like employers are reluctant to hire, regardless of qualifications.”
“Continued challenges with labor. We are in Nashville running sub 3% unemployment with significant affordable housing challenges. It’s very hard to find talent and when you do their comp is 20-30% higher than projected.”
“Looking at a shortage of qualified candidates to replace retiring co-workers.”
A majority (53%) think getting an MBA is not worth it.
“Technological advances outpacing degree content.”
“Not in this job market…”
“An MBA from a prestigious school still carries weight and a strong network of alums. Less known or regional schools don’t offer enough of either to warrant the cost.”
“If you make it to the top it is rare not to have one.”
“Potential for advancement across industries.”
“If not financially, it significantly improves skill-sets.”
Compensation increased but difficulty hiring also increased the workload for existing employees…
In 2019, only 29% of respondents did not take their full allotted vacation.
Compare this to 65% did not in 2018.
“Boundaries” have been a big topic in the media, yet …
87% of our survey checks their emails and responds on days off.
“Work life balance matters. When not at work don’t do work.”
“Check for urgent emails only”
“Only for time-sensitive priorities”
“Too much to do during the week not to catch up”
“Proper professional etiquette”
“I work 24/7”
“I’m a Broker”
“Easier to keep up”
“Unless there’s an emergency, I believe personal time to recharge and maintain balance keeps one sharper during the hours that are scheduled as “work” hours”
51% reported their company’s revenue remained about the same.
38% reported their company’s revenue increased in 2019.
23% increased more than 10%.
More thoughts and insights on the year ahead…in your own words:
Positive / Growth
• New year will be the best ever!
• It is going to be challenging to raise investment capital more so than this year
• This may be the last year of consistent market performance throughout US gateway cities which means for
younger talent, there is slight hesitancy to change markets through a career move.
• We are expecting another big year of growth, even if there is a market correction.
• More retail bankruptcies and closures but continued economic growth
• Maintenance labor will still be hard to find, wages will continue to increase partially because of the economy,
partially because of labor shortage, people who want to work hard, be continual learners, and have a growth
mindset will always find a way to be successful.
• Hoping and praying for the right opportunity with the right company/organization where I stay for the
remainder of my career!
• Big opportunities to come
• Opportunities and new window of revenue will open as we add new Real Estate agents to the office.
• I haven’t had a lot of time to think too in depth about the year ahead, working and going to school for an MBA.
• I am trying to stay out of my “life box” as much as possible and focusing on doing the absolute best I can
• with what’s in front of me. I am gaining confidence and have faith that things will work out. I plan to start
• looking for opportunity at some point over the next few months in anticipation of being close to graduation
• in the Spring 2020.
• Need more opportunities for women to earn the same as a man for the same work
• In CM. PM, A&E, & FM. I see greater remote capabilities to the FM in a location. I see greater integration of
woman in the skilled trades and services areas (custodian, engineering, etc.) My hope for the year
forthcoming is that a sense of stability for the economy (with Brexit, trade wars, etc.) will have come to
some degree of clarity.
• The economy is still roaring forward in growth mode. We’re in the later stages of economic growth but things
probably won’t slow until late 2021. I’m personally seeing compensation for new hires increasing by 20-40%
over the previous incumbents which makes me think about my own future and If I may need to make a
change to earn more. That’s the first time in five years I have seen the opportunity to earn substantially
more by leaving than staying and getting promoted.
• 2020 will bring an end to uncertainty: it will be the catalyst year for overall market correction. Aside from the
election year media-infused hype, look to external forces that will shape the year ahead (just pick any one
of these: Hong Kong protests, Russian cyber warfare, N. Korean nuclear threats…)
• Full speed ahead
• Looking forward to growth and new opportunities in this hot job market
• Comparatively, the US market is still the strongest and most attractive to global investment. Barring an
unexpected catastrophe, US investments will remain strong.
• Multifamily continues to benefit from job growth, relocation, and lack of home ownership of millennials. I
expect that the economy will continue in its current pace with an otherwise lack of worldwide yield and
safety driving investment in the US.
• Employees’ market.
• 2020 will be another great year for real estate. My concern grows for 2021 and a likely correction in the
market which is long overdue.
• The year ahead (2020), will be full of new investment opportunities, that are in search of higher yields,
more flexible (REIT, MLP and INFRAREIT) vehicle holding structures, across multiple multi modal facilities,
infrastructure wrappers and MOB Healthcare Assets, specifically within the direct and indirect securitized
real estate & real asset sectors; that are all within the Alternative Asset Universe. Also, the future of 5G
depends on data and technology providers’ ability to offer necessary infrastructure to enable growth. For
this to happen, the real estate industry must step up. For example, industrial REITs that are integrated into
e-commerce distribution, logistics networks & self-storage facilities will play key roles in the success of
data expansion. This flash point is where technology, infrastructure & real estate will intersect, as this
• includes cloud computing infrastructure, large data centers & house server farms.
• Hopeful that it is another year of growth and a time when I can find a new challenge to grow my career!
• 2020 will continue to be a strong year for Texas. The economy continues to grow. I think you will continue
to see a high influx of migration off the east & west coast to the central US. This includes markets like
Dallas, Austin, Phoenix, Houston, Nashville, Chicago (although their tax structure is hurting them), and
other mid-western locations. Many additional buildings will be constructed in the Texas markets. Last
mile destinations will continue to push the e-commerce job market and in Austin, tech will continue. The
groundbreaking at the Apple campus is a positive sign for another 2-3 years of sustained job growth for
• The real estate hiring market is likely to experience a correction in salaries. According to recruiters there is
a mismatch in expectation and worth. Real Estate professionals will feel the opposite.
• I think there’s still some room to run so businesses and developers will continue to hire and build. I currently
have two job offers in front of me to move on to larger, more established companies that are growing.
• This is a pivotal year for the national and world economies. We are looking for more certainty regarding
interest rates, consumer debt, tax policy, housing prices and wage growth. US economy has had slow and
steady growth – can we extend the longest bull run in recent generations?
• I expect 2020 to be a stable year but with less growth.
• More opportunities to work remotely would be helpful in this field.
• I am very excited to move into a new role in a similar industry (still with RE) with opportunity to challenge
myself and grow both in my career and personal life. I think revenue growth is very attainable in the real
estate industry for the right teams with the right mindset to go get it.
• Difficult hiring market will continue due to historically low unemployment rate. Boom market makes
scheduling contractors difficult for large jobs and nearly Impossible for small or medium projects. Tenants
are expanding, renewing early and vacancies are being absorbed putting a strain on parking operations,
vertical transportation, maintenance services and management staffing. These are great problems to have!
Wishlist is for a qualified HVAC certified maintenance tech who has the ability to lead the team in the future.
• I believe that there will be a lot of uncertainty because of the presidential election and extreme partisan
politics. I expect the economy to slow a bit but not go into a recession. The job market should remain
strong with low unemployment.
• Trying to stay optimistic and following our niche market evolution to stay competitive.
• Excess capital in the market continues to make deals difficult to pencil. Continued Escalating costs for
construction has compounded the issue.
• It will be a challenging year, but there are still good deals out there, especially as funds want their money
back on deals that are entering their 5th or more year.
• I hope I get a new job, hopefully it’s in the real estate industry, and hopefully it’s at least a 10% pay increase.
• The hiring market seems to be getting more competitive as unemployment stays low and employees have
higher value as a result.
• I really like my job, but I drive 2 hours to work and 2 hours home. The drive is the only hold back for me.
• I’m meeting all of my goals at work
• Tight job market entry-level
• I am a recruiter and I expect hiring to be increasingly difficult in 2020. Human Capital will be the most
• sought after resource in 2020. Unemployment is currently at a 50-yr low. It will get even tighter in 2020.
Especially if one or more of these things happen (USMCA, Brexit/EU Trade, and China Trade). I predict
continued wage growth as employers seek to recruit and retain top talent.
• We’re in the largest expansion ever seen. Statistically we’re due for a downturn. The fundamentals in this
period of growth – lower taxes and decreased regulation – are not good long-term strategies.
• Housing and income inequality will be players in the residential and multifamily spaces. OK Boomer,
nobody wants a five-bedroom house in Scottsdale, but the millennials and Gen Z don’t make enough to
be homeowners in the urban areas they like. NYC development is overheated, especially with the exit of
much foreign capital.
• I am planning for the worst but hoping for the best
• Our markets should better weather the “impending tap of the breaks”; however, Tampa/SW Florida tends to
feel the lack of market depth/breadth more than other markets. I expect that to be this to be no different: not
a downturn, but stagnant nonetheless…!
• cautious about the markets. It will be interesting to see if there is significant turnover of employees as raises
have been minimal and the tight labor market hopefully will yield higher compensation to move.
• Stable to slightly up.
• Our company expects greater industry average continued growth, additional expansion of our company
• Looking for a year with more developments and project to work on
• rich get richer, poor get poorer
• Are people uneasy about the economy after such a long period of continuous growth?
• Looking forward to going back to the corporate world in the year 2020.
• Talented and qualified personnel remain challenging to hire in California.
• The upcoming year looks promising
• Most indicators seem to be pointing 2020 in a positive direction but that is always the case right before a
recession and there have been some warning signs the past year. It would seem that the cycle is overdue
for a downturn but I am not sure if the signs aren’t there enough yet or if they are hidden in the noise of the
high activity we are seeing. I have given up trying to make major decisions based on a cycle turn and
instead are looking to mitigate my risks and underwrite more conservatively with a focus on downside
scenarios and stress testing.
• JOB Offer Letter.
• I think 2020 will produce more of the same in the CRE markets. New construction will be muted but
transactions will get done at higher leverage points and lower profits. UW will begin to deteriorate.
• Another good year in my market for SF development.
• 2020 will be challenging due to a lot of new properties being built, but sometimes too many close together
and not enough in areas that need it. Low income housing will still be needed. Also, the job market not
enough will people to work. (hard work)
• I am excited by the opportunities
• Increasing need to get familiar with data analytics
• Hoping for the best, planning for the worst
• Our 2020 appears to be a bigger year than 2019, mostly due to some deals not closing in 2019 that will
trickle into 2020. Don’t expect any economic issues to disrupt our affordable housing industry.
• I think the next year will be a wait and see period.
• I would like to do more networking events and seek more opportunities.
• I think low growth and low rates will persist and multifamily RE will continue to be an attractive asset class
• Expect U.S. economy and job growth to continue expansion. RE cap rates to edge higher. RE market to
• I have expectations for 2020
• Bright, but cautious
• I think it’s going to be a robust economic year with continued growth and expansion.
• Our company has been sold and I will be looking for a new job, so I hope the year ahead brings good
• things to our business including continues lower lending rates.
• Will be challenging year in real estate as people recognize we are in an advanced stage of the current cycle.
• Excited for another year of growth and a bull market. RE activity will, hopefully, remain active and strong.
• 2020 looks to continue to be a strong year but we are proceeding with caution as there is still skepticism in
the marketplace about the economy and the long-term situation.
• Lots of job opportunities for the 25 -40-year-old population especially bright, energetic and disciplined
candidates. RETENTION is an underused concept due to many companies’ archaic style. Companies
should schedule PERFORMANCE REVIEWS more often than annually. Give values employees the
chance to open up & what you learn may surprise you.
• Another solid year
• continued difficulty in finding qualified financial managers and executive with the relevant CRE experience
in rust belt city
• Going to be a good year.
• Expect 2020 to be a robust economic year with much more growth than 2019 based on the continued
deregulation in various industries and the continued positive experience of the tax cuts and associated
• l am hoping for a better financial situation.
• My pipeline of business is stronger currently; and projected to have more sales in 2020.
• strong RE market, not over built, financing still doing solid underwriting and economy continues to grow,
so, job growth will continue as well, but not at a record pace. Still a good year for employment.
• Challenges finding talent in marketplace, clients demanding more.
• CRE will continue to do well. CRE Employers are short sighted and lowering salaries by hiring juniors
to lower salary burdens. While CRE is cyclical the downturn is not always caused by a slow economy
and overbuilding. Special Servicers are receiving assets that are a result of mismanagement by the
owner/borrower and poor Lender oversight.
• There is so much turmoil, it’s hard to know. Industrial should remain strong.
• Expect commercial real estate markets to remain stable.
• there is already some concern about perceived economic issues, but I believe we will continue to grow.
• We have some very large new partnerships and are excited for the year ahead. Our company is growing
• and hiring so we expect an even better 2020, and the first quarter is shaping up to be quite busy already.
• In the year ahead, I believe the market will continue strong; however, AB 1482 may shift the market rents
slightly in Residential Property Management.
• I assume 2020 will slow down, but hopefully it will not affect the economy and employment too much.
• Will be retiring.
• Time for a career change either in house or elsewhere. I’m looking for more money. Flat wages.
• Should be a great year with the economy continuing to do better. I am concerned about the cost of rent
• and the cost of housing. Too high in California, which is leading to an increase in the homeless population.
• Time to expand out of California
• With economic indicators being so mixed, the year ahead is difficult to predict. There are segments in the
real estate market, however, that will thrive, including multifamily, given the significant affordable housing
challenges that exist in many sub-markets around the country.
• Retail is at a crossroads as a Retail Real Estate Professional, I feel that this evolution has
and will give rise to a tremendous amount of business, and new blood so to speak entering the
marketplace. We are now in the fore front of an evolutionary and historical time in retail.
• Keeping our head above water. Lots of dumb money out there. Sheesh!!
• I expect to take an increasing role into a self-directed enterprise to increase my income as a hedge to
uncertainty in the market / cycle. The glass half full is still half empty someplace else.
• I think residential development and construction will continue to be strong in 2020.
• I think things will be flat
• Need a change and need it now. Can’t wait to learn new skills and move on.
• Make more money
• Looking forward to new opportunities.
• WE WORK NATIONALLY AND MOVE FOR WORK. WAS HOPING TO BE MORE stationery, BUT
• MOVING AROUND FOR WORK IS WHERE MONEY IS AT…
• 2020 should be another good year for CRE but most employers still remain cautious on committing to hire
new team members.
• My plan for 2020 will improve dramatically, as I plan to perform more entrepreneurial duties while relying
less on corporate America. FYI I am not a realtor however, I plan to become a realtor, a mortgage broker
and a builder in 2020.
• Slower growth.
• There is still a need for housing in the US so capital will continue to support new construction. Outside of a
black swan event, there will be continued growth in the Multifamily sector.
• Slower growth but still positive.
• Looking forward to another year of growth and expansion with our exceptional strong economy.
• Hopeful for real estate market stability
• Optimism for a more stable economy
• More competition on deals in a low interest rate environment. Difficulty finding strong candidates in a
low unemployment rate environment. Longer time to close a deal by working with less experienced local
sponsors looking for institutional capital providers.
• In my industry the outlook is not strong, the lodging space is highly cyclical, and we are experiencing a
leading indicator downturn already.
• Economic headwinds. Need a few irons in the fire at all times. Economic slowdown is the best time to
invest cash for less expensive purchases.
• Global economy has been set backward by Republican administration that is clueless to world economics
resulting in more uncertainty and less corporate capex spending.
• Continued relocations from high-tax states to more business-friendly environments. Growing pressure
from climate change concerns. Frustrating delays due to IBC regs and understaffed construction permit
• It’s going to be hard to find deals.
• More difficult to find good, seasoned people. Also getting harder to find good deals because the market
is so active and so many more getting into RE as a career. A lot like the mid 2000’s just before the bust.
• Flat year. Cash sitting, more FRB action, and tightening credit as the lower-level Corporates degrade.
2021 however looks to be the much more turbulent year.
• Real Estate view is a clock, buy at 6 and ride to the top. Sell at 12 and avoid the fall. I believe we are
heading to 9.
• Multi-family remains tight as far as delivery and absorption pace. We’re planning for longer lease-up
times with her concessions. Development roles do not seem to be appearing as frequently at the
manager to VP levels. Many companies finding it hard to make deals pencil or get financing.
• The current social/political environment is negatively impacting our international business.
• I think it will remain difficult to find and retain the best talent. Today’s low to mid-level CRE employees
seem to want constant change and it is difficult to provide that continually over a long period of time.
• I think we are at the top of the economic cycle so things will slow down
• Acquisitions will be harder but will continue. The economy will make a minor correction that many will
blow out of proportion then it will level off Firms will continue to try and underpay and will lose people.
• Fewer retailers are opening stores due to shift of capital to e-commerce, high construction costs, and
tight labor market. For most, the primary focus is on improving existing portfolio.
• Things could slow down
• Tenant fallout (closed stores) in the beginning of 2020 will continue to accelerate and surprise LL’s.
• Recent times in commercial real estate (i.e. 2019) show far more capital than projects to invest in and
the transaction winners are more often the dumbest bidders, not the smartest. True for equity and debt.
• Waiting for the impacts of the trade war, climate insecurity and income inequality to hit the economy.
• Not sure if 2020 is that year or not, but it’s coming at some point.
• I’m very concerned as I’ve been unable to gain employment for over a year.
• Retail continues to decline.
• Organic value growth is no longer a given — the risk is higher and the opportunities (often) are less. We
lack the people resources necessary to grind out value enhancement and finding people with the skills
and talent to really work each investment has been a challenge.
• I may leave the CRE world this year.
• We make our living helping the distressed, the mentally ill and those looking for lasting and meaningful
positive change in their life. Our market keeps getting bigger every year.
• The uncertain current environment, is being used by employers to convince themselves, that finding
the barely qualified, is the way to go. Different jobs, call for different skillsets, experience and
educational levels, and intellect. But most employers are under-hiring, forgetting that the real cost of a
hire, is whether or not they are contributing to P&L. I’ve yet to see a company grow, with H/R with
• Bumpy in retail real estate, too many troubled retail concepts and too few replacements
• China will dominate world economic growth
• Going to be tough many small businesses are closing due to conglomerates and that narrows the
margins for small developers unfortunately.
• As computers take over more functions, people will lose their jobs and sense of net worth.
• Our company’s significant revenue decline reflects the loss of a 25-year client that also was about 25%
of company revenue. We picked up some business and lost some additional business.
• I’m a certified residential appraiser. Lenders are looking for more ways to cut costs and cutting out the
QUALIFIED appraiser is where they are starting.
• Another possible job change to unhappiness with my current firm.
• trade tensions, social unrest and elections will provide an additional element of uncertainty that may
contribute to continued pessimism in the market
• Continued challenges with labor. We are in Nashville running sub 3% unemployment with significant
affordable housing challenges. It’s very hard to find talent and when you do their comp is 20-30%
higher than projected.
• Lots of turmoil from uncertainty.
• I believe it will be a hard year for everyone and every business in the coming year. They are predicting a
recession. Whether I believe it is questionable. I believe by saying this repeatedly they are causing panic
in the masses and thus people will put back on their spending. It is the banks that cause these recessions,
don’t you think?
• Grim, Projects funded but not carried out, lack of true management and vision
• 2020 will be the last year of low interest rates and hence low cap rates. Real estate prices will begin a
20% decline that will last until 2025. There will be a loss of cap rate compression.
• My project management role is driven by sales. We are behind quota. I fear a downsizing. We are
working on a different business model which is driven by adoption and further development of the
evolution of internet and IoT communications. The rate of acceleration is still unknown and will be
driven by availability and acceptance of new ways to communicate, gather and process data. Status quo
is the enemy.
• I work in government but would like to change. Healthcare is what holds me back. I cannot get the
benefits I currently have in private industry. With a family of 6, this is just too important. Our
healthcare system is a disaster and it impacts so much. A better healthcare system would allow people
so much more flexibility in so many ways. I’m not hopeful for an improvement to our healthcare system
in the year ahead.
• I believe we are in the beginnings of a recession. I don’t believe that the employment market is as tight
as the broad unemployment rate makes us feel. I believe that companies are tightening their belts, and
hiring at the lowest end of the spectrum. Despite over 25 years in this industry, I have been unable to
make a career move to a lateral or elevated position. I was actively searching for a new position
throughout 2019. I am a woman. I am also concerned about the inequities in the residential housing
market; lack of affordable housing in good, safe neighborhoods. I see housing stock shrinking, as many
houses are converted from sale properties to rentals. I’ve also observed financing “bad behaviors” that
echo some of the activities that were occurring in 2007/2008.
• Looking at a shortage of qualified candidates to replace retiring co-workers.
Election Year 2020
• Election year, party in power will do anything to keep the economy looking great. Watch out for 2021
• Get rid of trump…that is all we need to do
• Should be good if the socialists don’t get elected
• Trump 2020 will be big against liberalism major protests to continue…do not trust China
• Local, state and national politicians have created deficits that must be addressed. Politicians care about
power and money make bad deals for taxpayers. We need to return to being responsible for our personal
actions, reducing government dependence and programs. All public employees must transition to a 401k
versus pension program. We need to reduce pollution and greenhouse gases. We need to take care of
• Everything will depend on the election
• Lawlessness & willful denial needs to end for people to feel safe. If runaway crime in sanctuary areas
continues not to be enforced, it destroys our markets… especially the longer it continues.
• Depending on political issues and election are likely going to have an economic impact
• There is still economic uncertainty. The election is coming and there is no professionalism at 1600
Pennsylvania Ave. Some markets are doing well, others are challenged, this can change in a few months
for better or worse. I don’t see our company hiring more, except when absolutely required, until there is
confidence in the future growth of the company.
• We are past due for a market adjustment. If it comes in 2020 it will just be part of a natural economic
cycle for real estate. We still have not adjusted to the reduced need for retail commercial or how it will
effect residential. Can we convert a nearly empty commercial space into an exciting active adult
community? Real Estate needs that “next big idea” and someone bold enough to develop it… I don’t see
it and that means we are in for some creative destruction of how we do business.
• It is a presidential election year so there will be a lot of volatility.
• The largest challenge to the industry, to our company and to my personal success that we’ll face in 2020
• Is the deadlock in our government. The elected representatives of this country have put their personal
needs and egos ahead of the best interests of the country. That matter is only perpetuated by all the
media channels spinning tales and creating a massive divide among the people. As the election draws
nearer, the uncertainty will grow, and the economy will slow in the second half of 2020.
• It will all depend on the election, impeachment hearings and trade wars this idiot president has gotten this
country, what’s left of it, into.
• With Congress not working it’ll be hard for Wall Street to do the heavy work. The country needs serious
income, not cheap jobs that pay just $15/hr.
• more disruption due to tech space and uncertainty in political climate and economy hang over peoples’
• A wild ride due to political climate. Will we impeach or not, will we have tariffs or not. Instability due to
• I expect there to be some political uncertainty due to the upcoming US Presidential election. This will
result in companies putting major decisions on-hold due to the uncertainty. The economy will continue
to do well due to the strength of the individual consumer. Inflation should remain low. Interest rates will
increase, but only moderately. E-commerce will continue to increase as it relates to total retail sales.
• Significant opportunity unless a socialist is elected and taxes the American dream to death while
protecting their own wealth.
• Trump is going to be re-elected and the country will continue to do very well.
• Transaction volume with be flat or slightly lower, since rates have seemed to stabilize (reducing refi’s) and
because people will wait to see how the election pans out, in aggregate.
• There will be a fair bit of cautiousness, given more than a decade of economic recovery. Also, an election
year with impeachment in the air among many other sources of turbulence will likely have some
repercussions to the economy.
• I’m optimistic about the economy and opportunity to have a stronger year financially in 2020 than in 2019.
I’m happy that we have an administration in the Oval office which is looking out for the U.S. worker and
economy, as well as reducing unnecessary regulations and burdens for small business owners.
• Companies probably hiring thin, then see the election outcome
• We will see moderate stable growth for Q1 and Q2, Q3 will bring the beginning of election uncertainty.
If Warren wins, we will see a lot of capital leave the country and senior lenders tighten significantly. If
anyone else wins, we will be relatively flat after that until sometime in 2021 when something else causes
the real recession. My guess is student loans with variable rates will push many people into default and
that cuts the Dow by 3500 at its lowest, then we’re all fine again in 2023.
• It seems the economy is chugging along. Perhaps Q3 will slow or become sluggish due to the uncertainty
around the presidential election.
• I work internationally on projects with a 3-5-year gestation. The 2020 election will influence strongly the
environment in which we work.
• Political risks locally may be problematic
• The political climate is a very big concern. Not one person or one side, but the whole of it combined. It’s
broken and needs to be fixed.
• If President Trump is re-elected. the economy will stay strong; if social democrats are elected, we will see
a serious recession with their ‘green deal’ and higher taxes constricting the economy.
• As long as our current president remains in office things will be better than they have been in decades.
• 2020 will be a year of increases in spite of the current political environment.
• The year ahead is going to be stagnant due to it being an election year. Too much uncertainly in politics,
for a business to know how to reacts. Caution will be the norm.
• Presidential election will dominate national focus
• Economy is at political risk. For the economy to continue to do well Trump or Bloomberg need to be
• Current politics and Election year are wild cards.
• The residential sales will remain slow as buyers are still waiting and there is no urgency to act. In addition,
the economy and election may put further uncertainty to the real estate market.
• Opportunities will exist but caution with uncertainty ahead and possible political events to hinder growth
• I believe the election will cause volatility throughout the year. It remains to be clear how much of the run
up in equities is due to simply lack of better investment opportunities domestically or globally. Nonetheless, domestic macroeconomic fundamentals are generally strong and likely more so with respect to real estate. Absent significant shock to the economy or significant un-absorbed supply growth, neither of which I expect, real estate markets
will continue to function effectively and grow slowly.
• As a finance executive, I am a bit concerned with some of the assumptions driving transitional loans
and the significant amount of capital raised for this strategy (especially late in the cycle).
• Many folks in their 50’s are being left on the sidelines. If markets falter, their skill set will be needed.
Spreadsheet skills are unlikely to affect performance.
• Age discrimination against older and more experienced potential hires is rampant. I do not see this
abating in 2020 and it significantly challenges the ability of a company to make good decisions. The
trouble that WeWork got itself into is a perfect example of why some adults are needed at companies.
• I am looking for a new position. I have over 30 years experience within commercial real estate, income
property finance, commercial real estate asset and portfolio management, due diligence, transactional
analysis and related areas. I also have multiple years experience in commercial real estate REO
marketing, sale and disposition. I am a licensed real estate broker in Florida. I have completed the
educational requirements for my CCIM designation and need to work in a transactional environment.
I am focused on opportunities with institutional investment real estate, brokerage and in quality
investment real estate suitable for larger dollar investment firms etc. I am able to relocate within
Florida or possibly outside of the state with a focus on the southeast or lower Midwest. This presumes
that the prospective employer pays for the relocation. I am interested in possibly returning to my home
town of suburban St. Louis, Missouri.
• My thought is that I’m 50 years old and can’t get hired despite lots of interviews. So, my thought is that
this unemployment will continue into 2020 and beyond. Nobody is hiring me.
• I’m actually between jobs at this time, that was not an option. I will say that hiring is bias or something
is happening. Bias by age and other factors is clear. Age Discrimination is being felt by many in their 50’s
plus. So, years of experience is being overlooked and wasted, while they are struggling and going through
savings, 401k to survive. I can see how many apply for jobs via Indeed or Linked In and some have had
more than 500 – over 1000 applicants. This means too many are without jobs or underemployed and HR
is likely not able to process all of those applicants even if many are qualified.
• The year ahead will be terrible. No one will hire me as I’m unemployed and over 50 years old. I expect
to remain unemployed for the long term.