Eugene Gorab is the President and CEO of Greenfield Partners, which has sponsored nine discretionary investment funds and secured capital commitments from private and institutional investors over $4 billion. Eugene Gorab is affiliated with the Urban Land Institute (ULI), a nonprofit research and education organization dedicated to the responsible use of land.
After the COVID-19 pandemic served a huge blow to the US economy, the recent ULI Real Estate Economic Forecast report says that the economy has already hit bottom, but will slowly recover by the second half of the year. While the GDP has dropped by 6 percent and the unemployment rate expected to reach 11.3 percent by the end of the year, the three-year forecast is optimistic that the GDP will rebound by 3.9 percent in 2021 and 3.6 percent in 2022. Both figures are the highest growth levels since before the 2008 recession. The key to the recovery of the US economy rests on the US government’s actions, which can include three phases. The country is currently in the first phase, which involved re-opening of the markets and the gradual lifting of the stay-at-home orders. By the second phase, the economy will proceed to a reset mode where furloughed people go back to their places, which also be marked by growing demand in sales. The third phase will involve the broad recovery, but the entire picture of this broad recovery remains to be seen.
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AuthorCurrently, Eugene Gorab serves as the President and Chief Executive Officer of Greenfield Partners, LLC, a company he founded in 1997. Archives
May 2022
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