Investors are "sticking with" commercial real estate despite persisting geopolitical uncertainties and inflationary pressures, according to one industry watcher.
"Commercial real estate investors aren't running scared," says Marcus & Millichap's John Chang. "They're looking past the headlines and they're looking at the hard facts."
Chang says positive metrics in areas like job creation, household savings, and unemployment all bode well for commercial property investment. Job numbers last quarter were the second-strongest first quarter numbers on record, while unemployment is down to 3.6%, 10 basis points off a record low. Core retail sales are also at their highest level on record, and Americans have $18 trillion in US-based savings accounts and $5 trillion in money market accounts. That's $6 trillion above normal.
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