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Its mid-year report looks at where interest rates were thought to be, and where they are now.
Some real estate groups are turning to more niche subsectors, such as MOB.
Reduced availability of credit, project approval delays, and increases in expenses are hampering development.
Measuring inflation-adjusted household debt as a percentage of GDP is a good result for CRE.
After stripping out gas, food, and housing, the inflation rate falls to 2.5%.
The firm's survey showed an 18.3% rise in first half of 2023.
The grocer continues toward its goal of adding 2,400 stores by year's end.
Currently, the newest buildings with the best amenities are the winners.
But the Marcus & Millichap CEO says there's more "pain" to come in office.
Interest rates, labor shortages, and material prices have all had an impact.