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DENVER — Global uncertainty and political polarization are the issues that will have the most significant impact on the real estate industry in 2017 and 2018, according to The Counselors of Real Estate (CRE). The findings come from the organization’s Top Ten Issues Affecting Real Estate, which it released Wednesday during a keynote address by Scott Muldavin, 2017 chair of CRE, at the annual conference of the National Association of Real Estate Editors in Denver. CRE is a professional association for real estate advisors. Muldavin is president of The Muldavin Company, a real estate advisory firm based in San Rafael, Calif. The list was created from dialogue between CRE’s members, all of which took place under the direction of two CRE members: Peter Burley, a research executive and author, and Victor Calanog, chief economist and senior vice president with Reis New York City. The other issues earning rounding out this years’ Top 10 list include technology, generational disruptions, retail disruptions, infrastructure investment, housing, “Lost Decades of the Middle Class,” real estate’s emerging role in healthcare, immigration and climate change. Below are brief summaries of each issue from the report. For more in-depth analysis, click here to read the full report. …

Are the below-average monthly job gains recorded in May due to a labor shortage, or is there weakness emerging in the employment market? That’s the crucial question in the wake of the latest job figures released by the Bureau of Labor Statistics (BLS), which showed employers added 138,000 nonfarm payroll jobs in May, well below the 12-month average of 181,000 positions. Meanwhile, the unemployment rate fell from 4.4 percent in April to 4.3 percent in May. “Most evidence points toward the former, and that should keep the Fed on track to lift rates two additional times in 2017, even if it waits until September,” says Steve Hovland, director of research for Irvine, California-based HomeUnion, an online real estate management firm that specializes in helping investors acquire and manage single-family home rentals. “Job openings remain near record-high levels, indicative of a skills gap rather than hesitant employers. Furthermore, the stock markets regularly flirt with record highs, job growth has been positive for the longest post-war stretch and home prices have soared,” adds Hovland. Members of the Federal Open Market Committee (FOMC) will need to weigh whether the lowest unemployment rate in 16 years is sufficient to justify a rate hike despite …

An evolution is taking place in the retail sector today. Big box retailers are no longer in vogue with today’s active and experience-driven consumer, and the growth of e-commerce continues to spark a need for change throughout the retail landscape. Bankruptcies and store closures may be topping the headlines, but the sentiment in the sector remains cautiously optimistic, according to Real Capital Market’s May 2017 Retail Sentiment Report. For the May report, RCM surveyed its database of principals and brokers from across the country to gauge their sentiment on investing in today’s market, the greatest threats to the industry, the factors most influencing their acquisition decisions and where they see the greatest opportunities. Investors point towards anchored retail centers — particularly those with grocery tenants — as one of the greatest avenues for growth, with the category cited by more than 40 percent of investors. “Anchored centers, whether highlighted by a grocery store or another strong big box retailer, remain the category where the majority of investors see the greatest opportunity,” says Steve Shanahan, executive managing director of Real Capital Markets. “Though e-commerce is highly disruptive for so many businesses, grocery stores may be among the least vulnerable.” Shifting consumer buying habits were …

Airports by and large are jumping on the “shop local” bandwagon, offering more and more locally based dining options. Airports that infuse the local character into their design and restaurant and retail offerings will likely entice travelers to stop and spend their dollars. Chicago Midway International Airport is set to undergo a major renovation of its concessions and food offerings. In February, the city council approved the ordinance authorizing a concession redevelopment and management lease agreement with Midway Partnership LLC to redevelop, manage and operate the airport’s concessions program. The partnership is comprised of Vantage Airport Group, SSP America and Hudson Group. Meanwhile at Chicago O’Hare International Airport, passengers can enjoy three different terminal locations of Tortas Frontera, a Mexican restaurant under the leadership of local chef Rick Bayless. Both Condé Nast Traveler and Bon Appétit have named the eatery America’s best airport restaurant. In March, Chicago Mayor Rahm Emanuel proposed a plan that would allow food trucks, a staple for Chicago’s culinary scene, to set up on site at O’Hare and Midway airports. Current regulations regarding food truck locations would be modified under the proposal, according to local media reports. “The implementation of local venues is pretty much expected now. …