realtor.com® Chief Economist Jonathan Smoke joined us once again to present his predictions for the 2017 real estate market at our annual Market Outlook in January. So, what does this year have in store? Check out Jonathan’s predictions, and get his playlist.
Other Predictions for 2017
The challenges of low inventory and the responsibility of REALTORS® as economic stewards were the main points of discussion for the panel. However, each panelist brought their own unique focus and professional niche to the table. Moderated by Dennis Rodkin, residential real estate reporter at Crain’s Chicago Business, they presented their individual forecasts before coming together and taking questions from attendees.
- Economics: Charles Wurtzebach, PhD, Real Estate Center at DePaul University
- New Construction: David Wolf, Coldwell Banker Residential Brokerage
- Commercial: Deena Zimmerman, SVN Chicago Commercial
- Downtown Residential: Gail Lissner, Appraisal Research Counselors
Economic Development in Opportunity Wards
As C.A.R.’s Senior Director of Government Affairs Brian Bernardoni is well known for saying: “There is a city west of Western and south of Roosevelt called Chicago.” It’s important to remember that there are many neighborhoods that aren’t the focus of with development – places where opportunity is ripe. Our Economic Development panel, featuring Keith Lord from The Lord Companies, 15th Ward Alderman Ray Lopez and 2nd Ward Alderman Brian Hopkins, was formulated with the intent to help REALTORS® understand what the needs are in neighborhoods outside of the downtown area. For a few key ways that you can best effect change, work with the aldermen and spur development, click here.