ULI Fellows Identify Forces Shaping The 'New Normal' For Real Estate

No one knows when exactly local housing markets will recover, banks will emerge from paralysis, or just how deeply the recession will permeate consumer sentiment in the years to come. But there are some sure things that will alter the housing landscape over the next decade, according to a panel of Urban Land Institute senior resident fellows who spoke at ULI’s annual conference in Washington, D.C., earlier this week. Among them: demographic population shifts, financial restructuring, global competition, and climate change. “These trends will continue regardless of location, of which political party is in power, and of how quickly we recover from the recession,” Maureen McAvey, ULI’s executive vice president of initiatives, said during the briefing. “Taken collectively, they will create the ‘new normal.’” Here are five predictions culled from that panel and from the newly released ULI report “Finding Certainty in Uncertain Times.”

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