The commercial real estate market is beginning to turn and the investment climate is thawing, John Chang, the national director of research and advisory services at Marcus & Millichap said in a video on the company's website.
A metaphorical gun has gone off, "at the start of a track event," he noted. "It's almost like the combination of Chairman [Jerome] Powell's commentary together with the jobs report was a trigger."
In recent communications, Fed officials have emphasized their increased focus on jobs and unemployment, the second part of their dual mandate, and decreased emphasis on inflation, as they set monetary policy.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
