US commercial real estate: Storm in a teacup or next shoe to drop?

Maria Acevedo — Wed, 10 May 2023 15:04:08 +0000

Despite the confidence of analysts such as ��׶��Ƶ and the pockets of positivity that others can point to, the fact remains that many in the market are worried. Why is that, Euromoney asks Rosenthal. What are they missing? He pauses for a long time. “What are they missing – it’s a good question,” he says at last. “It’s a mistake to paint all of CRE with a broad brush, that’s the biggest narrative mistake I see here.” He also thinks there has been an undue spill-over of headlines from CMBS, where he says office has an outsized share. “I’m not saying there are no issues in CMBS, but to say that there is a systemic risk is a leap too far.” Peter Simon, a ��׶��Ƶ colleague of Rosenthal’s, also points to something more basic. “I do think that since 2008 there is an instinct to find the next bank contagion event – not wanting to miss the risk or wanting to get ahead of the curve,” he says. “In my experience covering the Canadian banks for the last 10 years, it is pretty much once a year that there are headlines that the Canadian housing market is going to melt down.”

The post appeared first on ��׶��Ƶ.

Euromoney Archives - ���׶���Ƶ

US commercial real estate: Storm in a teacup or next shoe to drop?

Euromoney Archives - ��׶��Ƶ