2013 ULI Trends Day Arizona Recap – Part 5 – Keynote – John C Cushman, III

Following the Sports Panel was the lunch keynote speaker, John C Cushman, III. He was able to discuss a more global picture of what is happening.

Here are a few of the bullet points:

  • The Global Economy is still facing a lot of economic headwinds over the next few years
  • 2013 will be a year of treading water
  • Eurozone growth will be at 0% or less
  • Asia will outpace the world but will be slower than in the past decade
  • “Life in the slow lane” will be the norm until the Fiscal Issues are addressed
  • Capital Expenditures drive our economy and it is stalled because of the Politics in Washington
  • Unemployment to remain unchanged Nationally
  • Uncertainity is the enemy to Prosperity
  • Technology, Energy and Healthcare will drive the office markets in the USA
  • AZ is a low cost environment compare to CA

With a few last jabs at the state of CA and the measures they are taking to keep high wage earners in the state and how what they are doing is contrary to what they should, he summarized 2012 with the key characteristic of uncertainty and believes that will be why 2013 will be life in the slow lane.

If you are there, what did you takeaway?