Dr Chandan at IPD Briefing: CRE Recovery Depends on Jobs
Commercial Property Executive reports: Speaking at the recent IPD Fourth Quarter US Real Estate Results Seminar in Chicago, Real Capital Analytics’ (RCA) global chief economist Dr Sam Chandan provided his outlook for the commercial real estate market in coming months. His main take-way was that, “For the US economy, the recovery has been stronger than expected…But the question now is whether it can be sustained. A lot now depends on the pace of the labor market recovery, both for the broader economy, and the prospects for commercial real estate.”
On current real estate trends, Dr Chandan referred to findings in RCA’s latest US Capital Trends report that revealed lenders were among the largest buyers of commercial properties in 2010 on account of taking back distressed assets. On the other hand, workouts of distressed inventory exceeded new additions to distress during the fourth quarter of 2010, signaling an inflexion point in the distress cycle. He also commented on the apartment sector’s durable recovery, where improved pricing and demand have encouraged heavy investment activity over the past two quarters.
For more of Dr Chandan’s comments on the commercial real estate markets and broader economy from the IPD Seminar, please see the full recap article on Commercial Property Executive’s site.
View the full article on Commercial Property Executive: Dr Chandan at IPD Briefing: CRE Recovery Depends on Jobs
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Posted by: Nina Turner