June 2016 Economic Outlook


UCLA Anderson Forecast: Slowly, Steady Growth Continue

UCLA Anderson Forecast’s second quarterly report in 2016 for the United States calls for continued slow but steady GDP growth in the two percent range. As forecast in the spring report, national economic growth will be driven by increases in consumer spending and housing, along with an end to the [...]

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Letting the Air Out of Commercial Real Estate

Fueled by cheap money, low levels of new construction except for apartments, and modestly improving demand commercial real estate values have more than doubled off their financial crisis lows of 2009. The best properties are trading at record low capitalization rates of below 5% and the [...]

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UCLA Anderson Forecast


National Forecast
California Forecast
Los Angeles Forecast

Letting the Air Out of the Commercial Real Estate Balloon
Keynote Address - Peter Lowy, Co-CEO, Westfield Corp.
Executive Panel:  Will the Commercial Real Estate Boom Continue?

June 2016 Economic Outlook

Peter Lowy, Co-CEO, Westfield Corp.
Keynote Speaker: Peter Lowy
Co-CEO, Westfield Corp.
Kaufman Hall, UCLA
Wednesday, June 8, 2016 | 12:30 - 4:45 p.m.
THIS EVENT IS SOLD OUT | Seating is limited. Online registration closes 11:59 p.m. on 6/6/2016
Commercial real estate prices have more than doubled since the financial crisis lows of 2009 and in many cities the skyline is dotted with construction cranes. Similarly multi-family housing has been on a tear with rent growth outstripping income growth for most of the current decade making affordability a political issue. The critical questions we will be asking at the conference is whether or not these trends will continue or is the bull market over.
12:30 - 1:30p Registration
1:30 - 1:35p Welcome and Introductions
1:35 - 2:40p UCLA Anderson Forecast for the Nation and State
2:40 - 3:05p Setting the Stage for Real Estate
3:05 - 3:20p Break
3:20 - 3:55p Keynote Address by Peter Lowy, Co-CEO of Westfield Corp.
3:55 - 4:40p Executive Panel Discussion: Commercial Real Estate
Key Topics
Is the bull market in commercial real estate ending?
What will be the impact of the on-going technological disruption on office, retail, industrial and hotel demand?
Although commercial real estate has thrived in the low interest rate environment, is the lending environment turning hostile?
Are California's commercial real estate developers still optimistic?
Full employment--is it here yet?

Judy Olian, Dean and John E. Anderson Chair in Management, UCLA Anderson School of Management

Edward Leamer, Director, UCLA Anderson Forecast

David Shulman, Senior Economist, UCLA Anderson Forecast

Jerry Nickelsburg, Senior Economist, UCLA Anderson Forecast

William Yu, Economist, UCLA Anderson Forecast

Peter Lowy, Co-CEO, Westfield Corp.

Stuart Gabriel, Arden Realty Chair and Professor of Finance and Director, UCLA Ziman Center

Wayne Brandt, Managing Director - National Originations Director, Wells Fargo Bank

Brad Cox, Senior Managing Director, Trammell Crow Company

Mark Forbes, Executive Vice President - Real Estate Division, City National Bank

John Tipton, Partner, Allen Matkins



UCLA Anderson Forecast