Real estate won’t be the cause of the next economic downtown, but there are surely forces impacting the commercial real estate market and contributing to the shifting economic winds. That’s just one of the topics that a standing room crowd of commercial real estate professionals discussed at the John B. Levy & Company Investors Conference held recently in Richmond.
Like Joseph, the industrious assistant to Pharaoh in the Bible who hoarded food during seven years of good crops to save Egypt during the ensuing years of drought, many developers are eyeing the economy wondering when the drought is coming.
Well, the first signs may be here. After 6 1⁄2 years of a slowly rising market in commercial real estate, industry data seem to suggest that buyers are taking a breather,
John B. Levy & Company principal Andy Little looks at some of the trends the industry saw in the past quarter as well as the future impacts of Fannie Mae and Freddie Mac.