MINNEAPOLIS—As reported in GlobeSt.com, US Bank has just hired industry veteran Rex Rudy to head its commercial real estate division. Although the Charlotte-based Rudy says it's too early for him to sketch out the bank's strategic direction, like many top people in the industry he, with a few notes of caution, exudes confidence about the future.
Rudy tells GlobeSt.com that he expects that the economy will continue on its path of relatively measured growth, around 2% to 3% annual growth in GDP and the Fed will continue its policy of fostering a low interest environment. “This bodes well for us in the long-term.”
And so far, the sectors that have led the way in the recovery still look good. The multifamily and industrial markets, of course, have been on fire. And although some people have voiced concerns that in at least some markets, especially the top gateways, multifamily developers have overbuilt, “we've not seen any evidence of that yet,” Rudy says, since those units do get absorbed.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
