Rising job openings show job market momentum still supporting the real estate recovery
A healthy job market has been the key to economic recovery, and especially the recovery in commercial real estate markets. The link between hiring and the demand for office space is particularly obvious, and the impact that rising employment and wages have on consumer spending, retail sales and demand for retail properties is also clear. Recently we have seen that the strong job market has helped fortify the multifamily market in the face of increasing supply, as the Millenials that are finding new jobs are fueling rapid growth in demand for apartment rentals.