In this episode, our guest, John Chang, National Director of Research & Advisory Services at Marcus & Millichap, shares key insights into the current economy, trends, forecasts, and areas of opportunity for 2024. We discuss the impacts of inflation, the Federal Reserve's interest rate movements and the evolution of real estate over the past 18 months.
00:00 Introduction
02:36 Challenges in Office Sector
04:23 Commercial Real Estate Slowdown
05:29 Stress in Major Urban Hubs
07:39 Multifamily Sector Challenges and Distress
09:54 Anticipation of Upward Cap Rates
10:25 Historical Context of Interest Rates
11:36 Challenges in Raising Capital
14:47 Bridge Lenders' Motivations and Strategies
19:33 Cap Rates Analysis
20:12 Transaction Volumes Year-Over-Year
22:52 Expectations for 2024 Transaction Activity
24:27 Real Risk vs Perceived Risk
28:52 Observations on Credit Tightening
30:59 Predictions for 2024
33:46 Positive Outlook on Industrial Sector
35:39 Positive Outlook on Retail Sector
36:57 Positive Outlook on Industrial Sector
37:31 Potential Bounceback in Senior Housing
38:39 Medical Office Space Discussion
40:39 Opportunities in the Office Sector
42:10 Anticipating Multifamily Market Normalization
44:31 Inverted Yield Curve Discussion
47:56 Factors Contributing to Soft Landing
50:22 Recap of Key Points
Connect with John Chang on LinkedIn https://www.linkedin.com/in/johnchang/
Connect with Bob Fraser on LinkedIn https://www.linkedin.com/in/bob-fraser-22469312/
Connect with Ben Fraser on LinkedIn https://www.linkedin.com/in/benwfraser/
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