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The Chief Economist: 2Q2024 U.S. CRE Outlook

The Chief Economist: 2Q2024 U.S. CRE Outlook

  • Market fundamentals firm
  • Equity capital markets stabilizing
  • Debt capital markets exhibit nuance
  • Investment strategy offers options
  • Key risks remain exogenous

Welcome back to The Chief Economist, my name is Ryan Severino, CFA and we've got lots to talk about on the outlook for CRE in 2Q, let's dive right in!

With one quarter in the books, the narrative for the US commercial real estate (CRE) market remains largely unchanged. The economy continues to expand, supporting generally healthy space market fundamentals, which are maintaining their general trajectory, both overall and within each property type. But the capital markets remain largely stymied by relatively high interest rates. Consequently, many in the CRE market are growing increasingly frustrated with the Fed and monetary policy. Despite these challenges, the balance of risks still skews positive for CRE over the next 12-18 months. We remain broadly positive on the outlook and continue to foresee better overall performance for CRE over the balance of the year. But what does that look like and how can investors best position themselves for this future?

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