Q2 2023 CRE Quarterly Economic Briefing
Finding the New Equilibrium
Register to view the On-Demand replay below.
As inflation decelerates and the labor market shrugs off higher interest rates, the near term probability of a recession is declining. Does this mean CRE is “out of the woods”? Unfortunately not. Commercial real estate’s resilience will still be tested over the next 12 to 24 months. Financing costs are primed to remain elevated, which will continue to stress refinancing efforts across all property types.
Please join Dr. Thomas LaSalvia, Kevin Fagan, and Lu Chen as they share Moody’s Analytics CRE second quarter data, and discuss their view of the CRE industry’s path forward.
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SpeakersThomas LaSalvia, PhD Head of Commercial Real Estate Economics Moody's
Kevin Fagan Senior Director, Head of CRE Economic Analysis Moody's
Lu Chen Director of Housing Research Moody's
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Thomas P LaSalvia, Ph.D. is the Head of Commercial Real Estate Economics at Moody's Analytics. Thomas, a former professor, brings his pedagogical prowess to his extensive research into the marketplace, with a specific focus on the multifamily sector. His work is frequently published in a variety of periodicals, and he spends a vast amount of time presenting his findings to a variety of industry and academic professionals. Prior to joining Moody's Analytics, he served in a consulting role for the firm while teaching classes in foundational economics and urban economics at The College of William & Mary.
Kevin is a senior director and Head of CRE Economic Analysis at Moody’s, responsible for research, thought leadership and strategic initiatives for the Moody's CRE group, with a focus on capital markets and climate risks. He’s the industry member chair of the Commercial Real Estate Finance Council ESG and Sustainability Initiative. He was formerly director of CRE and CMBS research in the Moody’s Investors Service. Prior to joining Moody’s, Kevin held CRE research roles at ING Clarion and Jones Lang LaSalle. He also practiced as a structural engineer, designing large scale commercial buildings in California. Kevin holds an MS from the Massachusetts Institute of Technology and a BS from the University of Texas at Austin.
Lu Chen is a Senior Economist at Moody’s Analytics specializing in Commercial Real Estate. She has worked in the commercial real estate industry in customer success capacity for over a decade. Lu has deep knowledge in urban economics and credit risk, with special focus on Texas market performance, senior housing, and urban migration.