Sources: Marcus & Millichap Research Services, U.S. Census Bureau
Stimulus and State Reopenings Bolster Economy
- The $1.9T fiscal stimulus passed in March is beginning to make its way through the economy
- Spending surged last month as consumers spent stimulus checks and states began lifting lockdowns
- As a result, restaurants, bars and other experiential retailers may see demand accelerate in the near-term
Heightened Spending Supports Nearly All CRE
- Increased consumption directly supports Retail, Hospitality and Self-Storage sectors
- eCommerce sales drives demand for Warehouse and Industrial space
- Stronger personal balance sheets also supports tenants’ ability to pay their Apartment rent
Looking Forward, Outlook Getting Brighter
- As the vaccination effort continues and states further ease restrictions, we could see activity rebound sharply
- Although their will likely be speed bumps on the road to recovery, the economy seems to be on the right path
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