By a show of hands, I.CON West keynote speaker Christine Cooper, Ph.D., managing director and chief U.S. economist with CoStar Group, polled attendees on their economic outlook – was it bright or bleak? The group responded largely positively, with most indicating they felt the economy was doing better than not.
In an information-packed keynote at CL&LR, Rebecca Rockey, deputy chief economist and global head of forecasting at Cushman & Wakefield, highlighted several economic trends that will inform credit liquidity and the capital markets in 2024-2025.
This year has continued to be one of recalibration and reevaluation for office space usage across the U.S. What does the data show about office usage now and what’s ahead? In a recent NAIOP webinar, the authors of the recent office space demand forecast published by the NAIOP Research Foundation explained their research findings.
Geopolitical strategist Peter Zeihan combines an expert understanding of demography, economics, energy, politics, technology and security to help clients best prepare for an uncertain future. At NAIOP’s CRE.Converge last week in Seattle, attendees had an opportunity to hear from him at the closing keynote.
“Less than 2% of industrial space today is cold storage, and it probably needs to be at 15%. We’re not even in the first inning,” opened economist KC Conway in a keynote session at NAIOP’s I.CON Cold Storage. Using the analogy of peeling back an onion, Conway identified four cold storage and capital markets “layers” to “see what makes us sweat and what makes us cry.”
The slow recovery of the U.S. economy continues to have an impact on the office market in Seattle as well as across the county. Despite steady job growth and moderate economic recovery gains during the first half of 2023, the Puget Sound regional economy is still struggling and will face continued headwinds during the near term, bringing an enduring sense of uncertainty and concern.
“We’ve been modeling for the U.S. to enter recession this quarter for the last year now,” began Dana M. Peterson, chief economic and center leader for economy, strategy and finance at The Conference Board, to a sold-out audience in a keynote at NAIOP’s I.CON East this week in Jersey City, New Jersey. She explained what a recession would look like, emerging economic trends, and their implications for industrial real estate.
Heidi Learner, head of innovation with Altus Labs, spoke to 800+ NAIOP National Forums members during their annual meeting in Boston about the outlook for the economy.
The Canadian government enacted legislation on Jan. 1, 2023, that disrupted commercial and residential real estate development across the country. The Prohibition on the Purchase of Residential Property by Non-Canadian Act (the “Act”) was originally intended to be a demand-side solution to make housing more affordable for Canadians by prohibiting residential purchases by non-Canadians over the next two years. However, the regulations under the Act, released only a week before enactment, unintentionally halted commercial investment in current and future residential and mixed-use projects in major metro areas.
With all signs pointing to an economic recession – presumably arriving midyear or Q3 – how can the commercial real estate community best plan for this event, which asset classes will be particularly hard hit, and what silver linings and opportunities will be available to savvy investors and progressive companies? Offering their insights and perspectives on this topic are Anirban Basu, chairman and CEO of Sage Policy Group and Jennifer LeFurgy, Ph.D., vice president of knowledge and research for NAIOP.
