Dr Chandan's Lead Indicator: "Integrated Mortgage Markets for 2011"
Commercial Observer reports: In his latest Commercial Observer column, Real Capital Analytics’ global chief economist Dr Sam Chandan chronicled the thawing that took place in commercial lending markets over the course of 2010 to project what could evolve during 2011. Though commercial debt has displayed some positive trends over the past year, the improvements have been uneven, favoring properties with the most secure income flows and stable fundamentals. Dr Chandan stated, “Just as the uptick in investor activity has favored major markets like New York City, the amelioration in the lending environment has been largely isolated to markets exhibiting the most robust investment trends and the clearest pricing signals.”
Using RCA data, Dr Chandan also parsed out how the mix of lenders currently active is growing more diverse as credit markets resume activity. Life insurance companies and foreign lenders, in particular, have taken larger shares of lending volume as other players have remained on the sidelines. However, Dr Chandan highlighted the reemergence of CMBS conduits as the feature of debt markets to watch going into the New Year.
For more of Dr Chandan’s thoughts on credit conditions in US commercial real estate, please see his full article on the Commercial Observer’s site.
View the full article on Commercial Observer: Dr Chandan's Lead Indicator: "Integrated Mortgage Markets for 2011"
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Posted by: Nina Turner