Forecast 2015: Let the good times roll, but beware of excesses
It is an annual ritual. As the year winds down, there is always an avalanche of forecasting as we try to figure out what the year ahead will bring. Tea leaves are read, and experts are consulted. Of the dominant trends in 2014, which will continue into next year?
There is a remarkable consensus on the answers: First, and perhaps most important, the recovery of 2014 — slow and steady — is expected to continue at about the same pace in 2015. Secondly, a secular change in demographics, with growing numbers of both millennials coming into the workforce and baby boomers aging out of it is redefining long-term locational preferences. As a result, the United States is becoming more urbanized, with greater demand for public transportation and other forms of infrastructure. In addition, the ever-increasing impact of technology, the growth of the healthcare sector and rising consumer confidence are all significant positives.
Things were good for real estate inv