LOS ANGELES—GlobeSt.com was in attendance at Avison Young's annual meeting Thursday at the JW Marriott Los Angeles L.A. LIVE. There, we ran into Mark Rose, CEO of the firm, who is also a member of GlobeSt.com's advisory board, who told us that the US markets are generally positive, when asked about his thoughts on the market.
“Choppiness in the financial markets was almost expected and could serve to reset expectations,” he said. “Interest rates must go up at some point and taking a little air out of the balloon is not a bad thing.”
China has problems right now, Canada is stable, but the U.S. and Europe have room to grow as we move into the fourth quarter, he adds. “As a reminder—our industry is cyclical. You can't move straight up.”
Rose previously chatted more in depth with GlobeSt.com on a rate increase, where he takes a wait and see approach on whether there should be much of a concern for the industry. “First things first: they will rise. They only have one way to go. But here is the rub: just because they rise, that doesn't mean it's a catastrophe.” Rose told GlobeSt.com that we can expect “one or two 1/4% increases between September 2015 and March 2016. That is healthy for the economy and the markets as we start to trend back to 'normal.'” Naturally, he added, “if interest rates spike, that is a whole other story. The Fed will manage this properly and may even cut after they raise, depending on the state of the financial systems and the economy.”
For more on that story, click here. And be sure to check back with GlobeSt.com for more from the annual Avison Young meeting, including more on the company's two newest office openings, job growth, the firm's growth plans and more.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
