CRE’s Projected Recovery Has Morphed Into a Swoosh Shape
While CBRE is optimistic about the larger US economy’s recovery, commercial real estate will take a longer time.
May 4, 2020 | Erika Morphy | GlobeSt.com
A month ago CBRE released a sobering report about its projections for the US economy and the commercial real estate industry, declaring that the former will start to see growth in 2021 while recovery in the latter would trail the economic rebound spanning 12 to 30 months, depending on the sector.
One month later, Richard Barkham, global chief economist and head of Americas Research, provided more color and filled in more details about these projections in a recent webinar.
For starters, Barkham still believes in a V-shaped recovery for the US economy, but he wonders if the aftershocks of COVID-19 are going to usher in a period of volatility.
