With a mild recession now built into our forecast, the outlook for commercial real estate performance has worsened. But because this is a relatively small downgrade and it is joined by an expectation that the Fed cuts rates sooner than previously thought, the overall impact on our forecasts for real estate values isn’t a big one. Nevertheless, all-property returns could drop to 0% in 2023 as capital values decline.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.