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ULI Consensus Forecast (Fall 2020)

Consensus forecasts for this year have been revised upwards, although the outlook for total returns remains negative. At the same time, the prospects for 2021-22 have been downgraded, but only slightly. We made more substantial downgrades to 2021-22 in our latest forecasts, but are still more positive than the consensus beyond this year, largely because we expect yields to begin to nudge lower from late 2021.

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