This is a narration of Radix's weekly Rent and Operating Trends Report. Economic conditions remain turbulent and will likely stay that way through at least the summer months. The final estimate of first-quarter GDP will be released on Wednesday and economists expect it will remain negative. As the second quarter comes to a close, the likelihood of a recession this year increases. Consumption and travel often jump in the summer months, but this year may be different with inflation, gas prices, and airline tickets at generational highs. Aside from the traditional economic indicators including CPI, PCE, and retail sales, the quarterly earnings reports from oil companies, airlines, and major retailers should serve as a proxy for economic activity and sentiment. Industry leaders like Apple, Exxon Mobile, and United Airlines are scheduled to report earnings during the last week of July. Tune in to find out more information on multifamily dynamics during the week of June 26.
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