Capital Markets

If the 10-year hits 5% and keeps going, that would complicate a CRE recovery.

But not across all sectors.

However, except for smaller banks, the rate of new modifications is slowing.

A rally in REIT performance could boost public and private deal flow in 2025.

But is that the wisest move?

And the bigger the delinquency, the larger the perceived impact.

Fiscal policy will also have some bearing on the cost of capital.

But the Biden administration has only weeks left, so how much can get done?