U.S. economic expansion nears 10 years, and real estate fundamentals remain healthy

The U.S. economy is at full employment and GDP growth accelerated in 2018, but many have begun to worry about a future recession, with consensus forecasts placing the downturn two years out.

“There’s no obvious sign that there’s an end to the cycle, but there’s a few warning signs,” said Mike Acton, head of research at AEW, at a research presentation in San Francisco on March 26.

But while the cycle may not be showing signs of a precipitous end, it is getting quite long, with 10 years of expansion. If that continues through June, this will be the longest expansion in U.S. history.

“We’re soon to be in uncharted territory,” said Acton.

Policy may affect the timing of any future do