Wealthy buyers are choosing stability over speculation, market expert Chris Drayer writes. They’re thinking long-term and betting on real estate as a safer, smarter place to park their wealth.
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Mansions over $10 million are selling to the ultra-wealthy like hotcakes. What does this mean, and what do we say to real estate buyers and sellers? Outside of the lifestyles of rich and famous, real estate buyers and sellers seem nervous, hesitant and on the fence. They may want to move or need to move due to a life event, but are reluctant to move forward. Agents are frequently looking for conversations to have with prospects around the current market conditions.
This is actually a great opportunity to have a conversation with your prospects who are always wondering if now is the right time to buy or sell. So this is good news for you, and here’s what to tell your buyers and sellers.
Mansion sales are booming
This week, Fortune reported what I found very surprising. Thanks to uncertainty in the market due to the volatile trade war, mansion sales are booming.
This is counterintuitive to me, and likely, many sellers. Aren’t we in a high-rate, low-affordability market? Isn’t the real estate slowdown still dragging on?
Yes, and no.
Here’s what you need to know and, more importantly, what you should be telling your buyers and sellers.
The mindset of mansion buyers matters
Why are insanely rich people investing in high-end real estate this year? These wealthy buyers are choosing stability over speculation. They’re thinking long-term and betting on real estate as a safer, smarter place to park their wealth.
Your clients should consider this mindset as well.
They may be moving for any other reason that life throws at you, but rest assured that the market has spoken, and it believes in the stability and long-term growth of real estate. If you’re going to make a move, you won’t be alone. But when to pull the trigger?
Trying to time the market is like rocket surgery
As you know, buying the dip is not easy to do. Stocks fluctuate wildly daily, but in general, the market continues upward over time. Homes are not stocks and are not as volatile. Rates may drop. Prices may fluctuate. But unless you are doing a fix and flip, this is a long-term purchase.
Nobody has a crystal ball. If a move would improve your client’s quality of life, give them more space, reduce stress, or bring them closer to family. That’s the value that matters now.
Waiting might feel safe, but inaction has a cost, too. Life’s timing matters most.
So, what should you tell your clients?
“Let’s have a conversation. We can talk about the headlines, but I want to know what’s going on in your life.”
Life conversations are where trust begins and where clarity forms. That’s how you help someone get off the fence. Use confidence and care. Talk to them about life, and be able to back up their decisions with relevant, timely information about their long-term goals.
Chris Drayer is co-founder of Revaluate, which segments consumers for marketers by propensity to move.
Just for fun, Chris Drayer crunches the numbers to see which countries are buyer opportunities, which are seller plays and which hold must-watch investment potential.
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As a real estate agent, you are constantly comparing apples to oranges to help your clients make the right decisions about real estate. Buy, sell or hold — and at what price?
Due to several world leaders saying that their countries were not for sale recently, it got me thinking. What if you could just buy a country, as if they were actual real estate properties? Rather than square foot, location and beds and baths, I started using metrics like population, GDP, landmass, and population growth trends.
After looking at the data, some of these “properties” look like fix and flip investments, while others seem like long-term holds.
Just for fun, let’s take a look at some of the world’s “real estate” from a global perspective. I picked a handful of countries that are in the news currently. The scope and scale of these properties vary wildly, and the outcome was surprising to me.
United States of America: The prime urban condo
GDP: $29.17 trillion (2025)
Population: ~341 million
Landmass: 9.15 million km²
Status: Buy
The U.S. is a luxury high-rise in the heart of downtown — stable, high-demand and constantly appreciating. With the world’s largest economy and strong population growth, it’s a proven performer. Yes, the HOA fees (read: politics and debt) are high, but it remains a top-tier property. You buy the U.S. not just for current value but long-term strength.
China: The massive mixed-use development
GDP: $18.27 trillion
Population: ~1.42 billion
Landmass: 9.6 million km²
Status: Hold (Watch closely)
Think of China as a sprawling, fast-growing complex on the edge of a booming city. The potential is undeniable, but construction cracks are showing — demographics are shifting, and debt is a growing concern. Keep this one on your radar, but don’t overleverage.
India – The fixer-upper with sky-high potential
GDP: $3.89 trillion (nominal), rising fast
Population: ~1.46 billion (now No. 1 globally)
Landmass: 3.29 million km²
Status: Strong buy
India is that undervalued neighborhood that suddenly gets a subway line. Rapid population growth, a tech-savvy workforce and democratic stability make India an incredible long-term play. Infrastructure and governance challenges persist, but the potential upside is massive.
Russia – The historic mansion in disrepair
GDP: $2.18 trillion (nominal)
Population: ~144 million (shrinking)
Landmass: 16.38 million km²
Status: Sell
Fun fact: Russia owns more land than any other “property” in the world. Your “bigger is always better” clients should tour this property. But it’s isolated, poorly maintained and geopolitically complicated. Sanctions, declining demographics and overdependence on energy exports make this a tough hold. It’s a majestic structure — but one that may be crumbling from within.
Canada – The beautiful suburban estate
GDP: $2.21 trillion
Population: ~40 million
Landmass: 9.98 million km²
Status: Buy
Canada is that pristine, well-kept estate in a quiet, safe neighborhood. It’s not flashy, but it’s attractive — politically stable, resource-rich and increasingly popular thanks to immigration. The growth isn’t explosive, but it’s steady. Think of it as the Toyota of global properties: clean, future-focused and reliable.
Greenland is that enormous plot of land on the edge of town that no one knows what to do with — yet. As climate change alters global trade routes and reveals untapped natural resources, Greenland could become a geopolitical hotspot. But for now, it’s a cold, lonely gamble.
Overall takeaways that shocked me
GDP: Showing the U.S. as the vastly dominant economic “property.” Greenland, as you would guess, is not even visible.
Population: The demographic weight of India and China is intense. Similarly, the insignificant population of Russia compared to China is incredible.
Landmass: Highlighting Russia’s and Canada’s vast size. Shocked to see that India was actually larger than Greenland.
Make a move: In truth, it’s not a complete picture, kind of like MLS listings that only had four pictures back in the day. But, if you had to choose based only on this data:
Buy: India for growth, Canada for stability, U.S. for long-term power
Hold: China, watch for shifting trends
Sell: Russia, high risk and low upside
Speculate: Greenland, for visionary investors only
The number game
My team members and I love to turn data into insight — whether we’re helping real estate professionals spot the next mover in their database or imagining the world’s nations as investment properties. It’s all about seeing patterns, predicting trends and making smarter decisions.
What’s happening with the world right now is engaging and impactful, and that is what analyzing data is all about. Because when you understand what’s happening beneath the surface of your database, you’re better positioned to launch the right conversation at exactly the right time.
Chris Drayer is co-founder of Revaluate, which segments consumers for marketers by propensity to move.
“I distinctly remember a conversation I had with my boyfriend shortly after submitting an offer on my very first rental property. We were sitting at his son’s Little League baseball game, and my mind was wandering (if you’ve ever watched a Little League baseball game, you understand). I turned to my boyfriend and said, ‘What happens if they actually accept my offer on that property?’
The truth of the matter was, I was a 28-year-old with not even an ounce of rental property or landlording experience. All I knew was that I was over working a 9-to-5 W-2 job and thought that real estate investing could be my path out. Ever the black-and-white, straight-to-the-point kind of guy, my boyfriend responded with, ‘You’ll figure it out.’ Little did I know how true that statement would turn out to be.”
That’s Amelia McGee, co-author of The Self-Managing Landlordwith Grace Gudenkauf, explaining her anxiety and fear as a soon-to-be DIY landlord.
To Self-Manage or Not To Self-Manage—That is the Question
Like many first-time real estate investors, Amelia found herself diving into the world of property management with little experience and plenty of uncertainty. Self-managing a rental property can be daunting, but it also offers significant benefits—greater control, potential cost savings, and hands-on learning. However, it comes with its own set of challenges, from tenant management to handling maintenance issues.
Based on real-life experience and insights from Amelia and Grace, we’ll explore the advantages and challenges of being a self-managing landlord.
The Benefits of Self-Managing Your Rental Property
Self-managing your rental property offers unique advantages that can significantly enhance your investment experience and increase your profits. Here are four key benefits of self-managing that can positively impact your bottom line.
1. Cost savings
One of the most significant advantages of managing your rental property yourself is the potential to save a considerable amount of money. Property management companies typically charge 8% to 12% of the monthly rent for their services, along with additional fees for tenant placement, maintenance, and lease renewals. By self-managing, you can avoid these fees and keep more rental income for yourself, thereby increasing the profitability of your investment.
Let’s look at an example from The Self-Managing Landlord that shows how much you may need to pay a property manager. In this scenario, we assume a property is rented for $1,700 a month and was purchased for $170,000—following the 1% rule.
Service
Cost
Account setup fee
$300, one time
Management fee
$170 per month (10% of monthly rent)
New tenant placement fee
$850, one time (50% of monthly rent)
Maintenance fee
$100 per request (assume three per year)
Annual total
$3,490 ($290 per month)
Looking at the breakdown here, you can see that after setup, management, placement, and maintenance fees, you can expect to pay about $3,500 yearly in property management fees. That’s more than two months’ rent!
Granted, that cost will reduce in the second year, assuming the tenant renews their lease. However, these charges will still eat into your cash flow potential.
2. Quality control
When you self-manage, you have direct control over the maintenance, tenant selection, and overall condition of your property. This is especially important for ensuring your investment is well-maintained and your tenants are satisfied. Property management companies often manage multiple properties, so your rental might not get the attention it deserves.
The Self-Managing Landlord explains why some mom-and-pop landlords may be dissatisfied with the quality of service they receive from property management companies:
The most common recurring issue I hear from investors who are using a property management company is that they don’t feel like their property is getting enough attention, or that the property management company doesn’t really care about them after their contract is signed.
Let’s think about this from a macro view of the property management industry. Most property management companies are only making $100 to $200 of recurring revenue per month on every property they manage. These are thin margins in the grand scheme of things. In order to run a profitable business, pay their employees, and cover other business expenses, these property management companies need to onboard hundreds of clients, which in turn spreads their efforts out too thin.
This issue is further exacerbated if you only have a few properties with the management company. Their main priority is going to be their bigger clients, so the smaller you are, the further down the ‘call back’ list you’re going to be.
3. Better tenant relationships
This level of control allows you to build relationships with your tenants, leading to longer retention and reduced costly turnover. Direct communication fosters trust and respect. Tenants appreciate landlords who respond quickly to maintenance requests and are approachable when issues arise.
Also, by being more involved in the tenant screening process, you can ensure that you select responsible tenants who are likely to stay long-term and take care of the property.
4. Build valuable skills
Managing a property on your own teaches you a wide range of valuable skills, from handling maintenance and repairs to negotiating leases and managing finances. These skills can be beneficial, not only for your rental properties, but also for future business ventures.
In fact, in the book, Amelia shares an experience about how she partnered with other investors to purchase a $500,000 property. They brought the cash for the down payment, and she brought her skills as a successful DIY landlord. It was a win-win for everyone.
The Challenges of Self-Managing Your Rental Property
Self-managing rental properties can be rewarding, but doing so also comes with several challenges that every landlord should consider. The Self-Managing Landlord mentions these five key areas where self-managing can present difficulties.
1. Managing tenants
Handling tenant relations is one of the most critical aspects of being a self-managing landlord. Even if you try to build tenant relationships, mismanagement can lead to disputes, vacancies, or even legal issues.
Educating yourself on landlord-tenant laws and best practices is essential to avoid problems. Proper tenant screening, addressing tenant concerns, and ensuring rent is paid on time are crucial. Although most tenants are reasonable, there will always be a few who challenge your patience, requiring tact and professionalism to manage effectively.
2. Managing contractors
Property maintenance is another vital responsibility, and it requires finding, hiring, and coordinating contractors for repairs and upkeep. Poor contractor management can lead to cost overruns, substandard work, and decreased property value.
Knowing how to negotiate contracts and oversee projects is crucial to maintaining tenant satisfaction and your property’s overall quality.
3. Handling emergencies
Emergencies, such as plumbing leaks or electrical issues, can happen anytime. As a self-managing landlord, you may not always be available to respond immediately, which can lead to property damage or unhappy tenants.
A reliable emergency response plan is essential to ensure that urgent situations are dealt with swiftly and effectively.
4. Problem-solving
Managing a rental property can be emotionally taxing, especially when tenant relations or property issues arise. Letting personal feelings cloud your judgment can negatively impact your decision-making process.
According to The Self-Managing Landlord:
“One of the most important skills you need to have as a self-managing landlord is the ability to problem-solve. Landlording may not be the right fit for someone who quits when the going gets tough or does not react well to stress or pressure…You need to decide whether it’s really worth it for you to continue landlording or if hiring it out is the better option.”
Successful self-managing landlords must maintain professionalism, set clear boundaries, and remain objective when interacting with tenants and property concerns. Creating systems and processes to minimize emotionally driven decisions can help ensure consistency in your management approach.
5. Legal risks
Self-managing landlords must be well-versed in local, state, and federal landlord-tenant laws. Failure to comply with legal requirements can result in costly disputes, fines, or evictions. Staying up-to-date on legal developments and seeking legal counsel when needed is crucial for managing risks appropriately.
Final Thoughts
While these challenges are real, you should still be able to self-manage your properties. At the same time, they remind you that the proper knowledge and preparation can help you navigate potential difficulties.
By thinking through worst-case scenarios and being proactive, you can make informed decisions and prevent many issues from arising. Remember, even without prior experience, many successful landlords have learned as they go—proving that you can effectively manage your rental properties and see positive results with the right tools and mindset.
Save time and money with this refreshing guide to managing your own properties.
In The Self-Managing Landlord, Amelia McGee and Grace Gudenkauf share the secrets of efficient property management, tenant screening and onboarding, and scaling your business—all to help you break free from the 9-to-5 grind and create lasting wealth through real estate.
Note By BiggerPockets: These are opinions written by the author and do not necessarily represent the opinions of BiggerPockets.
CHICAGO (September 4, 2024) – The National Association of Realtors® today announced the 10 finalists for its 2024 Good Neighbor Awards, which honor NAR members who make extraordinary differences in their communities through volunteer work by giving time, money, energy and expertise to uplift people. Now in its 25th year, the Good Neighbor Awards have recognized 250 Realtors® making an impact in 43 states, Puerto Rico and 17 countries worldwide.
“The Good Neighbor Awards underscore the profound impact real estate professionals provide beyond the transactions and titles, including the value of service and community engagement,” said NAR President Kevin Sears, broker-associate of Sears Real Estate/Lamacchia Realty in Springfield, Massachusetts. “As we celebrate 25 years of this esteemed program, these agents who are Realtors® inspire us with their unwavering dedication and exceptional contributions to bettering lives and strengthening neighborhoods.”
Five winners will each receive a $10,000 grant and national media exposure for their charity, including a feature in the fall issue of REALTOR® Magazine. The winners will also be honored in November during NAR NXT, The REALTOR® Experience in Boston. Five honorable mentions will receive $2,500 grants.
Starting now, the public can vote for their favorite Good Neighbor finalists. The top three vote-getters will be recognized as Web Choice Favorites, with the winner taking home $2,500, and the second- and third-place finishers each receiving $1,250, funded by Realtor.com®. People may cast their vote at realtor.com/goodneighbor between September 4 and October 2. Both the winners, as determined by judges, and the Web Choice Favorites, determined by online voting, will be announced on October 7.
The 10 NAR Good Neighbor Awards finalists are as follows:
Daniel Davies, Davies-Davies & Associates Real Estate (Queensbury, New York)
Davies has dedicated 35 years to volunteer firefighting with North Queensbury Volunteer Fire Co., often serving as chief or assistant chief. He continues to respond to hundreds of calls annually, handling fire emergencies, motor vehicle accidents, and frequently being called upon for mountain and diving rescue and recovery missions.
Howard Friedman, Compass Commercial Real Estate (Bend, Oregon)
Friedman, a former board president of the Bethlehem Inn homeless shelter, has leveraged his real estate expertise to help the nonprofit purchase and renovate properties, boosting resident capacity by 30%. A chef and former restaurant owner, Friedman has also dedicated nearly two decades to preparing meals for shelter residents.
Ed Gardner, Gardner Real Estate Group (Portland, Maine)
Gardner founded the Equality Community Center, which houses 18 LGBTQ-focused nonprofits under one roof with below-market rent. This arrangement fosters collaboration and increases operational efficiency among the organizations, reducing duplicated efforts. Additionally, he is spearheading the nonprofit’s latest project, the development of a 54-unit affordable housing complex for seniors.
Founder of The Red Basket Project, Gilbreath is dedicated to combating “period poverty.” She coordinates volunteers to assemble and distribute more than 1,900 packs of feminine hygiene products monthly across 17 locations, including schools and homeless shelters. Since its inception, the project has distributed more than 90,000 period packs to those in need, with each pack providing essential support for one to two menstrual cycles.
Stacy Horst, Keller Williams Atlantic Partners (Fernandina Beach, Florida)
Horst co-founded Erin’s Hope for Friends following the tragic loss of her 17-year-old daughter, Erin, who struggled with social connections and ultimately took her own life. In her memory, Horst and her husband established e’s Club, a supportive space for teens and young adults on the autism spectrum. The club fosters lasting relationships through joyful interactions and has positively impacted the lives of more than 1,500 individuals.
Tisha Janigian, She Is Hope Realty (Canoga Park, California)
Janigian, the founder of She Is Hope LA, drew from her own struggles as a single mother without money, credit or assets. After achieving stability, she dedicated herself to aiding others in similar situations. She has since empowered more than 1,200 single mothers by providing credit assistance, financial training, employment opportunities, housing, food and real estate scholarships.
Johnson was a founding member of the Moab Free Health Clinic in 2008 to serve uninsured and underinsured individuals in this rural and remote area. The clinic handles approximately 3,000 appointments annually, offering primary care, mental health services, vision screening and dental care. Using her real estate expertise, she helped the clinic secure larger facilities due to growing demand for its services.
Johnson, a board member of 100 Black Men of Dekalb and holder of a doctorate in education, leverages his background as a teacher and principal to enhance educational and economic opportunities for African American youth. As a mentor, he teaches financial literacy and leadership skills, and organizes trips to broaden children’s horizons. He has contributed significantly to the growth of the organization at the local and national levels and has helped introduce financial literacy programs for teens to his local real estate board.
Stukes, founder of I’m Bruised But Not Broken, is a dedicated mentor and advocate for people affected by domestic abuse. She manages support groups and a phone hotline for victims, orchestrates community awareness events and leads a social media campaign to educate the public about the signs of abuse. Additionally, Stukes donates bedding and backpacks to shelters, further supporting those in need.
Charlie Wills, Charlie Wills Team–Real Estate Partners (Madison, Wisconsin)
Wills, co-founder of 100 Men of Dane County, initiated a program where 100 community members make a significant impact by committing to donate $4,000 annually. Each quarter, they accept proposals from local nonprofit causes supporting children and select one to receive a $100,000 grant. To date, they have donated more than $2.3 million in grants, primarily benefiting small nonprofits.
Nominees were judged on their personal contributions of time as well as financial and material resources to benefit their causes. NAR’s Good Neighbor Awards are supported by primary sponsor Realtor.com®.
“The Good Neighbor Awards spotlight the commitment to going above and beyond one’s professional duties to improve lives and build communities. This dedication is why Realtor.com® proudly continues to sponsor the program year after year,” said Realtor.com® Chief Marketing Officer Mickey Neuberger. “We congratulate this year’s finalists and celebrate every agent who is a Realtor® striving to make the world a better place – it all starts with being a good neighbor.”
About the National Association of Realtors®
The National Association of Realtors® is America’s largest trade association, representing 1.5 million members involved in all aspects of the residential and commercial real estate industries. The term Realtor® is a registered collective membership mark that identifies a real estate professional who is a member of the National Association of Realtors® and subscribes to its strict Code of Ethics.
About Realtor.com®
Realtor.com® is an open real estate marketplace built for everyone. Realtor.com® pioneered the world of digital real estate more than 25 years ago. Today, through its website and mobile apps, Realtor.com® is a trusted guide for consumers, empowering more people to find their way home by breaking down barriers, helping them make the right connections, and creating confidence through expert insights and guidance. For professionals, Realtor.com® is a trusted partner for business growth, offering consumer connections and branding solutions that help them succeed in today’s on-demand world. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. For more information, visit Realtor.com®.
HAPPENING NOW! At Inman Connect Las Vegas, July 30-Aug. 1, 2024, the noise and misinformation will be banished, all your big questions will be answered, and new business opportunities will be revealed. JOIN US VIRTUALLY.
Realtor.com CEO Damian Eales didn’t mince words during his Inman Connect Las Vegas session on Thursday. The CEO took direct aim at CoStar Group CEO Andy Florance’s claims about rival portal Homes.com’s performance, urging audience members to take what they hear with a “packet of salt.”
Eales pointed to an advertising challenge Realtor.com parent company Move filed in July with the Better Business Bureau’s National Advertising Division as an example of CoStar’s alleged deception. The challenge took issue with CoStar’s “Homes.com just reached 156M monthly unique visitors” and “Homes.com now has DOUBLE Realtor.com’s traffic” claims, which were based on Homes.com Network traffic — not Homes.com traffic alone.
Homes.com has since updated its ads to highlight the site’s sole traffic figures, although the NAD ruled they can still use Homes.com Network figures with “explicit disclosure.”
“People in this room thought that their brand and their listings were appearing on all of those URLs,” he said. But quite frankly, I encourage you to go to all of those other 16 URLs, like Land.com and Apartments.com, and search for your brand and your listings.”
Eales went on to question additional claims Florance made about the number of views Homes.com members get on the listings, saying that he tracked the difference in listing views on Homes.com, Realtor.com and Zillow. A listing for an $830,000 apartment in Los Angeles has 300 views on Zillow but 14 million views on Homes.com.
“I mean, please, the population of LA is less than 4 million,” he said. “Who are these people [viewing the listing]? And why hasn’t the property sold? You know, sometimes if it seems too good to be true, perhaps it is. I think that customers should really challenge the claims that are being made.”
Although many of the headlines Realtor.com has made this year have been related to its beef with CoStar, Eales said the company has dedicated a lot of time to championing buyer agency and helping the industry navigate coming changes with commission policy. The CEO highlighted the portal’s “111 Reasons” campaign that highlights the tasks buyers’ agents handle during a transaction — an important move as some homebuyers grapple with the upcoming decoupling of commissions.
“[The campaign] came from inspiration from our customers and from [multiple listing services] who were saying, ‘Hey, we’re getting hammered here,’” he said. “The profession of buyer agency is being questioned by the media, it’s being questioned by lawmakers, and we need help to demonstrate the value that buyer agency brings to consumers.”
“We’ve launched two editions of that, in which we’ve demonstrated the 111 reasons why it is important for consumers to get independent buyer agency when making the biggest and most leveraged purchase of their lives,” he added.
Beyond homebuyers, Eales said he hopes the campaign gives regulators and lawmakers valuable insight into what buyers’ agents bring to the transaction. This is especially important, he said, as the Department of Justice monitors multiple real estate antitrust cases, including the Aug. 17 changes connected to the National Association of Realtors’ settlement.
“It is clear that this administration and, I think, all administrations in the future, would want to reduce the cost of buying and selling homes,” he said. “And there are many ways that you can do that. We would argue that looking at commissions is one way, but there are a lot of others.”
“Taxes are another area that should be examined, as are the regulations and red tape associated with building new homes,” he added. “But in terms of commissions, yes, they have clearly signaled that they expect to see a more efficient marketplace and downward pressure on commissions, but we haven’t heard anything from the [DOJ] where they have suggested that they wish to do that at the expense of consumer protections.”
Eales said “there is still a great deal of confusion” about how to handle upcoming commission changes, but he believes the industry will find its footing and that consumers will continue to see the value of buyer brokers in the years to come, with “agency being preserved.”
“People still need a lot of help on both sides of that transaction,” he said. “We argue that independent representation is better than being represented by the party who’s representing the seller. But ultimately, that’s the consumer’s choice.”
As he eyes the future, Eales said Realtor.com is dedicated to providing agents with quality, high-intent leads and creating industry-leading products that benefit buyers and listing agents. The CEO highlighted Advantage Pro, a platform he called the predecessor to Homes. com’s “Your Listing, Your Lead” promise, Real Choice Selling and Listing Toolkit.
“Listing Toolkit is where we work with agents to ensure that they have the best listing capability in market, and then we ensure that that agent is presented to active sellers on our site through a consumer product called Real Choice Selling,” he said. “That’s where we provide a choice of agents, which consumers will then choose. We’re not selling advertising. We’re selling new listings to listing agents and performing incredibly well.”
Realtor.com’s buyer leads program, listing products, and rentals partnership with Zillow will yield dividends for the company, he said, with revenues projected to rise 50 percent in the year ahead.
