2022 and Real Estate: Three Projections for This Year
The new year is off with a bang. The past two years have proved difficult to navigate, given the unpredictability of COVID-19. However, select legislation and market data provides some guidance as to what may be on the horizon. Keep the following in mind as you plan for the remainder of 2022.
- Significant federal dollars will be pumped into broadband and infrastructure, expanding communities and development potential.
In late 2021, Congress passed the “Infrastructure Investment and Jobs Act.” This legislation dedicates over $1 trillion in federal funding to our nation’s roads and infrastructure. From a Real Estate perspective, this funding provides investors with new opportunities for profit and growth, including tax credits. Be sure to check out more information on the Act to review potential initiatives.
- Hybrid work will likely remain a permanent fixture of the economy.
COVID-19 changed how most office-centered businesses conduct work. For many, the office is no longer the “only” place to get work done. A recent study by the Building Owners and Management Association (BOMA) found that 37% of all businesses plan to rent less space than before COVID-19. This is reflective of employee sentiment, which favors flexibility and remote jobs. Those in Commercial Real Estate can likely expect that the type and amount of office space requested will continue to evolve given this shift.
- Interest rates will likely change, affecting the overall market.
Recent months have brought a rise in inflation. The Federal Reserve has indicated that it will likely increase interest rates in an effort to equalize the market. The extent – and number – of increases are not yet announced. Nonetheless, it can be expected that the residential market may become more competitive given the rising cost of borrowing/purchasing a home.
Feel free to reach out to me to discuss your 2022 Real Estate plans.
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ABOUT THEODORA STRINGHAM
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Theodora Stringham assists individuals, businesses, and organizations with growing successfully while minimizing liability. Focusing on real estate and personnel needs, Ms. Stringham executes sustainable plans for real estate development and employee matters. She provides comprehensive representation for everyday growth issues, including, but not limited to, re-zonings, site plan approvals, eminent domain/valuation concerns, employment discrimination, and disciplinary issues. Ms. Stringham’s scope of representation ranges from identifying potential liability and providing counseling/trainings, all the way through representation at trial.
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