Q4 2023 CRE Quarterly Economic Briefing
After a Turbulent 2023, is it Now Safe to Move About the Cabin?
Tough 4th Quarter for CRE, but there is Light at the End of the Tunnel
Commercial real estate performance was again weak as we closed the doors on 2023. Transaction volume remained subdued, prices declined further, and even with a resilient macroeconomy, rent growth finished the year well below average across most property types. But as usual, not all individual markets, neighborhoods, or assets, performed the same; the devil is certainly in the details. In this webinar, we will dissect our finalized 2023 trend data, provide clarity as to its current and future meaning for the market, and discuss the importance of the Fed’s looser monetary policy on the horizon.
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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
Luis Amador General Manager-Commercial Real Estate 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.