The latest Beige Book published earlier this week continues to paint a positive picture of economic conditions across the country, including a generally well-performing commercial real estate market. The Fed's commentary – which is based on reports from bank and branch directors and interviews with key business contacts, economists, market experts, and other sources – shows that national economic activity continued to expand in October and November and that employment gains were widespread, though overall price and wage inflation remained subdued. Construction and real estate activity are reported to have expanded overall, although the pace varied by sector, and lending typically held steady or increased. With most districts noting that contacts remained optimistic about the outlook for future economic activity, it is likely the next Beige Book publication will show similarly positive signs.
The full report includes information on manufacturing, mining, energy, retail and other market segments and can be found here. Since we're all pressed for time, I've summarized the key points pertinent to the CRE industry below:
REAL ESTATE
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Bill Tryon
As Director of Strategic Development, Bill Tryon focuses on advancing key risk management initiatives from an environmental, engineering and construction risk standpoint. Bill has a long track record of innovation, and hopes to educate the industry on best practices to control risks, reduce costs and create a competitive advantage. Through The Science of Real Estate forum, Bill will provide regular updates from across the CRE risk management world.
