And when it comes to commercial real estate, "the demand seems almost unquenchable," Washington Federal CEO Brent Beardall told CNBC's The Exchange this week.
"Clearly the increasing costs of financing are having an impact but the reality is the majority of commercial real estate is housing-related," he said. "And we're still seeing in our markets 95% occupancy in multifamily and year over year rent growths of around 15%….we're still seeing sponsors want to move ahead."
Western states are continuing to benefit from strong in-migration patterns accelerated by the pandemic, Beardall told CNBC.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
