Analysis

"The typical company spends close to a tenth of its budget on its office space, so this is an area that will likely come into focus for expense reduction if the recovery is slow."

If some economists' theory of a "K-shaped" COVID-19 economic recovery pans out, commercial real estate markets for affluent segments may fare better than those for lower-income people or companies.

"The social safety nets of European countries can look more expensive, but in a time of crisis, they can also help investors understand how economic losses will be distributed."

The price of lumber has shot up 110% since mid-April, according to a report from the National Association of Home Builders.

"Multifamily has strong fundamental drivers that are unlikely to deteriorate except under extreme economic conditions."

"It's important for the ratings agency to know," said Fitch Ratings' Britt Johnson. "Otherwise, we will be making more conservative assumptions on loss expectations."

July rent collection in affordable housing fell to a new low this year. It is just over 75%.

The CBRE noted a significant increase in signed confidentiality agreements for industrial and multifamily properties in Q2. But real estate still has at least a three-year journey to pre-coronavirus risk levels, the company warned.