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John ‘OB’ Jacobi on what’s next in 2016

The Windermere president gives his outlook for the next year

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Inman is interviewing industry thought leaders to find out what’s next in 2016. Here's John "OB" Jacobi, president at Windermere Real Estate. Want to weigh in on what’s next? Take our survey. Are you optimistic about 2016? The economy? Why? Yes, I am. Based on input from our chief economist, Matthew Gardner, I believe the U.S. economy will grow at a reasonable rate in 2016, with GDP (gross domestic product) growth of about 2.5 percent. There’s a presidential election next year, and historically nothing significant happens in the economy in an election year, so I expect things to remain pretty stable. The housing market? Why? I think the housing market will continue to move along at a positive pace. An increase in homeowner equity should lead to a modest increase in inventory. This should help address the substantial pent up demand that markets like Seattle and Portland are experiencing. Nationally, I’m expecting home prices to appreciate by about 4.5 percent,...