Real Estate Development Drivers
Housing (retail): demolitions, population growth, reduction of household size, shifting of household type toward non-family, increase proportion of middle-age and seniors, etc.
Commercial and Industrial: employment growth, etc.
increase of land prices and supplies, increase of material prices, reduction of mortgage rates, increase of labor costs, etc.
Cultural values and attitudes, infrastructure, etc.
High housing vacancy
Rapid growth of seniors
Flat per capita income growth
Potential post-recession surges in employment and housing starts
Fastest growth in medical, office and educational occupations
Job leadership by small establishments
Strong inflation in steel prices