Alan Nevin offers his viewpoint on the state of the national economy and focuses on the employment and real estate sector on San Diego.
Overall, Alan is very positive about both the U.S. and San Diego economy as we move forward in this election year. He definitely sees a decline in long-term interest rates, a reduction in inflation and an ebullient job market, both Nationally and locally.
Locally, he sees the existing and new home market returning to relative normalcy with prices up 8-10% in 2024. The apartment market will be deadly flat in terms of rents and occupancy as a substantial number of new units come to market. Equally flat will be the office market with the exception of medical office space which will continue to prosper. And all will be well in the retail, industrial and life science sectors.