As COVID cases ramp down, the outlooks for office, hotel, and retail are on the rise.
But "there's an important change happening," says Marcus & Millichap's John Chang. "I'm hearing the word 'endemic' being used more frequently."
And if COVID is in fact less deadly and less restrictions need to be in place, "that is an important shift in thinking, a trigger point," Chang says. "If COVID is considered endemic, that implies government restrictions will be reduced and people will finally begin to get back to normal."
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