PricewaterhouseCoopers and Urban Land Institute just released their annual Emerging Trends in Real Estate report for 2017. The report, based on interviews and surveys with industry experts, focused on three game-changers:
1). Limited housing inventory and the lack of affordable middle-class housing are top concerns for real estate professionals.
2) Labor shortages are inflating construction costs. The problem isn’t going away, but vocational training and apprenticeships, as well as potential immigration reform may help ease the problem.
3) New technologies are having favorable effects, including innovations that make buildings smarter and more efficient, and augmented reality (AR) technologies that improve collaboration between builders, architects and developers during the construction process.