US Economy May Have Longer Runway

CHICAGO—As reported in GlobeSt.com, Cornerstone Realty Advisers recently published its latest Global Listed Property Review, an examination of the latest global economic trends and how all this will impact the US. And Dave Wharmby, a managing director of Cornerstone, tells GlobeSt.com that, contrary to talk among some that the present US economic expansion could be in its latter stage, there is an argument that we’re just beginning the real economic expansion.

“It feels like this is a longer game than we have had in the past,” he adds. “It feels like there is much more runway this time.” For the past few generations, economic output would resemble a hockey stick. “There was a slow build up and then it would accelerate.” However, over the last six years or so  that accelerator seems to have been missing, and the long, slow build up has gone on for an extended period. “We haven’t yet gotten the productivity gains and the housing expansion that you would expect.”