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.
The Portland, Ore.-based alternative rock band Joseph has a hit song, “White Flag,” that speaks to never giving up despite “noises closing in from all sides … warning all the ways to die.”
While the band most certainly isn’t talking about the economy, the sister trio’s eerily sirenlike voices are singing the song of real estate investors today.
Elvis Costello most certainly wasn’t talking about what global governments are paying investors to hold their debt in his 1977 hit song “Less Than Zero,” but in this postBrexit world, investors are hungry for a safe place to stash capital, which creates some interesting dynamics.
More than $13 trillion of negative yielding in sovereign global debt has been sold, according to a recent Wall Street Journal study.