Industry insights, market outlook reports and commercial real estate
news, and trends from the Coldwell
Banker Commercial brand.
The effects of inflation are being felt across the country – especially by those wanting to buy a home. With consumer prices rising, home prices soaring, and rising interest rates, saving money to buy a home and being able to afford one is becoming increasingly challenging.
There have been severe weather conditions, natural disaster footage on the news, and a growing number of weather-related property losses throughout the years. In fact, the U.S. has sustained 348 weather and climate disasters since 1980, where overall damages/costs reaching or exceeding $1 billion (including CPI adjustment to 2023).
Who would have thought Newport, Rhode Island, Rock-Paper-Scissors, and leadership would have so much in common? That’s where Rochambeau comes in.
Renting has bloomed as a preferred option over buying due to soaring home prices and the start of the spring season, leading to a surge in apartment seekers. The CBC team is taking a closer look at which cities are experiencing the most rental activity and capturing the attention of potential renters.
The 2023 CBC Global Conference was an incredible event where attendees could brush up on their commercial real estate knowledge and skills, brush elbows with professionals from all over the country, and have some fun.
Although experts acknowledge the lack of clarity on pricing and the uncertainty about current market conditions due to inflation, rising interest rates, and supply chain disruptions, there is an overall optimism that this recession will not last long and that inflation is at its peak in most markets.
Although opportunities to acquire distressed CRE have been few and far between thus far, conditions may lead to a significant uptick in the sale of troubled office assets in the coming years. It’s long due, as industry observers have been anticipating a wave of distressed office listings since the pandemic’s onset first unsettled the office market.
Several downtown areas like Chicago, Cleveland, and Philadelphia have excess office space and insufficient housing to meet growing residential demand. Thus, developers have a solid opportunity to give new life and purpose to an old building with nearby restaurants, retail, and strong employment.
Adaptive reuse apartments have recently become a popular subject of discussion as US office sales continue to sink. Over the past few decades, vacant office buildings have been redeveloped into residential buildings.
The value of Coldwell Banker Commercial's global network is immeasurable, driving innovation and leadership in CRE.