Economics, elections, and the art of evading doom loops
10/17/24 • 42 min
Co-host Cole Perry, shares insights he gained from the recent NAIOP CRE.Converge and Groceryshop conference. Discussion then turns to economic indicators covering NFIB Small Business Optimism Index, labor market, and the potential impact on inflation from the latest CPI and PPI releases. With US elections looming, Omar and Cole also touch on potential implications for CRE.
The team then welcomes special guest Sandi Prendergast, from Altus Group’s Tax Research team. Together, they dig into property tax with a deep dive into the complicated world of 'doom loops'. Sandi helps to unravel what doom loops are, how they can affect both CRE property owners and the local community, and how state and municipal governments can avoid them.
Key Takeaways:
(01:14) Conferences recap: NAIOP CRE Converge
(02:55) Conferences recap: GroceryFest insights
(04:49) Economic data and market trends
(10:17) NFIB Small Business Optimism Index and CRE impact
(13:17) CRE Industry Conditions and Sentiment Survey results and political uncertainty
(14:55) Property Tax Benchmark Report
(18:15) Doom loop theory and property tax
(21:03) Understanding property tax policies
(21:23) Factors putting cities at risk
(22:46) Political influence on property taxes
(24:56) Addressing the doom loop
(27:25) Property tax reforms and their implications
(29:35) Challenges with additional taxes
(35:08) Recommendations for property owners and investors
(37:19) Multifamily sector insights
(40:11) Survey announcements and closing remarks
Resources Mentioned:
Participate in the Q4 2024 CRE Industry Conditions and Sentiment survey
https://altusdxm.qualtrics.com/jfe/form/SV_bCw519OV8S9r2sK?Q_CHL=CREExchange
US multifamily sector rallies for quick rebound as sentiment slips for other CRE sectors
https://www.altusgroup.com/insights/us-multifamily-sector-rallies-for-quick-rebound-as-sentiment-slips-for-other-cre-sectors/
CRE industry conditions and sentiment survey - US Q3 2024 results
https://www.altusgroup.com/featured-insights/us-cre-industry-conditions-and-sentiment-survey/
CRE industry conditions and sentiment survey - Canada Q3 2024 results
https://www.altusgroup.com/featured-insights/canada-cre-industry-conditions-and-sentiment-survey/
https://www.speakpipe.com/CREexchange
Thanks for listening to the CRE Exchange podcast, powered by Altus Group. If you enjoyed this episode, please leave a review to help get the word out about the show. And be sure to subscribe so you never miss another insightful conversation.
#CRE #CommercialRealEstate #Property
Co-host Cole Perry, shares insights he gained from the recent NAIOP CRE.Converge and Groceryshop conference. Discussion then turns to economic indicators covering NFIB Small Business Optimism Index, labor market, and the potential impact on inflation from the latest CPI and PPI releases. With US elections looming, Omar and Cole also touch on potential implications for CRE.
The team then welcomes special guest Sandi Prendergast, from Altus Group’s Tax Research team. Together, they dig into property tax with a deep dive into the complicated world of 'doom loops'. Sandi helps to unravel what doom loops are, how they can affect both CRE property owners and the local community, and how state and municipal governments can avoid them.
Key Takeaways:
(01:14) Conferences recap: NAIOP CRE Converge
(02:55) Conferences recap: GroceryFest insights
(04:49) Economic data and market trends
(10:17) NFIB Small Business Optimism Index and CRE impact
(13:17) CRE Industry Conditions and Sentiment Survey results and political uncertainty
(14:55) Property Tax Benchmark Report
(18:15) Doom loop theory and property tax
(21:03) Understanding property tax policies
(21:23) Factors putting cities at risk
(22:46) Political influence on property taxes
(24:56) Addressing the doom loop
(27:25) Property tax reforms and their implications
(29:35) Challenges with additional taxes
(35:08) Recommendations for property owners and investors
(37:19) Multifamily sector insights
(40:11) Survey announcements and closing remarks
Resources Mentioned:
Participate in the Q4 2024 CRE Industry Conditions and Sentiment survey
https://altusdxm.qualtrics.com/jfe/form/SV_bCw519OV8S9r2sK?Q_CHL=CREExchange
US multifamily sector rallies for quick rebound as sentiment slips for other CRE sectors
https://www.altusgroup.com/insights/us-multifamily-sector-rallies-for-quick-rebound-as-sentiment-slips-for-other-cre-sectors/
CRE industry conditions and sentiment survey - US Q3 2024 results
https://www.altusgroup.com/featured-insights/us-cre-industry-conditions-and-sentiment-survey/
CRE industry conditions and sentiment survey - Canada Q3 2024 results
https://www.altusgroup.com/featured-insights/canada-cre-industry-conditions-and-sentiment-survey/
https://www.speakpipe.com/CREexchange
Thanks for listening to the CRE Exchange podcast, powered by Altus Group. If you enjoyed this episode, please leave a review to help get the word out about the show. And be sure to subscribe so you never miss another insightful conversation.
#CRE #CommercialRealEstate #Property
Previous Episode
Gauging commercial real estate conditions and sentiment in Q3 2024
We share a digest of the biggest quarter-over-quarter changes and most surprising takeaways from the Q3 CRE Industry Conditions and Sentiment Survey. Our hosts, Omar Eltorai and Cole Perry, touch on key findings across US capital conditions, expectations for debt and equity capital availability, transaction intentions, market pricing and more!
Key Takeaways:
(01:07) Overview of the CRE Industry Conditions and Sentiment Survey.
(02:05) Current and expected capital environment.
(07:07) Capital availability expectations.
(10:43) Near-term transaction intentions.
(11:58) Pricing across property sectors.
(13:29) Property type performance.
(16:20) Biggest takeaways — swing in anticipated outlook for future capital conditions.
(18:17) Priority issues.
(22:00) Direction and conviction across key metrics.
(24:44) How to access the results of our CRE survey.
Resources Mentioned:
https://www.linkedin.com/in/omareltorai/
https://www.linkedin.com/in/coleperry1/
CRE industry conditions and sentiment survey - US Q3 2024 results -
https://www.altusgroup.com/featured-insights/us-cre-industry-conditions-and-sentiment-survey/
CRE industry conditions and sentiment survey - Canada Q3 2024 results -
https://www.altusgroup.com/featured-insights/canada-cre-industry-conditions-and-sentiment-survey/
https://www.speakpipe.com/CREexchange
Thanks for listening to the CRE Exchange podcast, powered by Altus Group. If you enjoyed this episode, please leave a review to help get the word out about the show. And be sure to subscribe so you never miss another insightful conversation.
#CRE #CommercialRealEstate #Property
Next Episode
REIT earnings recap - Q3 2024
Cole Perry, Associate Research Director at Altus Group, recaps the first full week of REIT earnings calls. Cole shares key highlights and insights across a selection of industrial, office, retail, manufactured housing, gaming, and data center REITs.
Key Takeaways:
(01:36) Industrial REITs results
(05:39) Office REITs results
(10:39) Retail REITs results
(15:01) Manufacturing housing REIT results
(17:52) Gaming REIT results
(19:43) Data center REIT results
(24:15) Participate in our Q4 industry conditions and sentiment survey
(24:48) Upcoming data releases
Resources Mentioned:
Participate in the Q4 2024 CRE Industry Conditions and Sentiment survey
https://altusdxm.qualtrics.com/jfe/form/SV_bCw519OV8S9r2sK?Q_CHL=CREExchange
https://www.speakpipe.com/CREexchange
Thanks for listening to the CRE Exchange podcast, powered by Altus Group. If you enjoyed this episode, please leave a review to help get the word out about the show. And be sure to subscribe so you never miss another insightful conversation.
#CRE #CommercialRealEstate #Property
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