The fallout from the credit market crisis and severe global recession in late 2008 and early 2009 has taken a heavy toll on commercial real estate.
We update our estimates of the size and growth potential for commercial real estate markets in our 55-country universe.
We created a model based on a measure of "cyclical fair value" in order to understand why yields of commercial real estate properties in Europe peaked below their long-term averages during the most recent recession.
The outlook for fundamentals in the U.S. seniors housing sector is positive.
With many of last year’s most worrisome risks no longer an immediate threat, the returns produced by real estate securities in 2010 are likely to be relatively normal, and certainly less volatile than the past two years.
It is no secret that much of the commercial real estate market is overleveraged.
The European commercial real estate market is facing one of its most difficult periods for some time.
Global commercial real estate asset values are undergoing a correction in that will create risks and opportunities for investors everywhere, as the global economy and financial markets adapt to a lowerleverage world.
The bottom line for real estate equities is that with the debt markets in flux and transaction activity stalled, 2009 is likely to be more about positioning for the economic rebound rather than aggressively acquiring assets.
Deleveraging will have a profound impact on commercial real estate. Less lending by banks will serve to slow economic growth.