January 2021 Macro Indicators

LaSalle Research - Narrators: Jacques Gordon, Global Head of
Research & Strategy and Dan Mahoney, Managing Director
&Investment Strategist


Our January Macro Indicators deck provides a summary of relative
real estate performance in 2020 and an update on the pandemic,
vaccine, and financial market indicators likely to drive real
estate demand and pricing in 2021. The tug of war between long-
and short-term drivers is itself driven by expectations for
permanent vs. temporary pandemic impacts. These expectations will
drive movements in the yields, prices, and indices we track each
month. These macro themes are also the focus of the 2021 edition
of the Investment Strategy Annual (ISA).


We highlight five key ISA themes for real estate investment in
this Macro Indicators deck:


Expect the dispersion of sector returns to continue

Invest in the rise of alternatives

Anticipate changing mobility and density preferences

Differentiate and separate permanent changes from temporary
shifts

Balance three styles: growth, income, and dislocation