Never has there been a more appropriate time to be charitable and share what you have with those in need. As our businesses continue to suffer the effects of the pandemic, more and more workers will be impacted.
In a year of headlines dominated by the pandemic, financial crisis, racial justice movement and climate change-induced natural disasters, a new report can help local, policymakers understand the challenges we must face and the emerging opportunities we cannot afford to squander.
While there has been some gradual improvement in commercial real estate deal activity from earlier this year, nearly half of those taking part in a recent NAIOP survey believe the pandemic will significantly affect their business operations for at least another 12 months.
We assembled a panel of industry experts to tackle this month’s question. Here’s what they had to say.
We are now more than six months into the pandemic that shut down much of New Jersey’s economy in early March. I thought it would be a good time to pause to look at where we are in terms of recovering from the staggering unemployment and economic losses caused by the health crisis. There is some surprisingly good news, but it must be taken with a strong dose of caution.
The state’s commercial real estate community gathered virtually on Wednesday as NAIOP New Jersey honored a group of transformative projects and industry leaders, including the family of a developer who helped found the chapter a half-century ago.
Nine of the state’s most impactful development projects will take center stage Wednesday night as NAIOP New Jersey hosts its annual commercial real estate awards gala.
Since mid-March, our national GDP has plunged and New Jersey’s unemployment rate is startling, as budgeted state and local revenues are hemorrhaging. COVID-19 has made matters far worse and the budgetary pains and economic slowdown will be significant and sustained under any scenario. Our state and local elected officials must now make difficult decisions that do not jeopardize our future.
Despite the ongoing adverse impacts from the COVID-19 pandemic, some experts report that the macroeconomic trends are looking favorable nationally, and especially for New Jersey, but it’s going to be pretty slow going. Marked differences exist among the various sectors, not all of which have bottomed out yet.
Much of the workforce has been absent from offices/workplaces and transportation systems since mid-March. Has this absence “made hearts grow fonder” to return? Not entirely, according to some experts.