The US economy has kicked off a new eight-year cycle after a mild COVID-induced recession, CBRE's Richard Barkham said in the company's recent podcast.
Barkham, global chief economist and head of Americas research for CBRE, said that while the recovery from COVID has been a "bit volatile," the US had an "ordinary" and "relatively mild" recession.
"You can see that in the number of workers that are not temporarily laid off statistics…we are at the start of a new cycle over the next seven or eight years," Barkham said. "And that, I think, will be dominated by some new trends emerging," including decarbonization, productivity growth, and the shift of millennials out of cities into suburban areas.
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