Falling commodity prices reflect cooling economy. While pricing pressures remain above target 27 months into the Federal Reserve’s current monetary tightening cycle, meaningful relief is beginning to show. Annual growth in the commodities less food and energy index — which captures pricing changes for non-necessity items such as recreation, vehicles and apparel — has been in negative territory for six consecutive months and reached a near 20-year-low at -1.8 percent in June. Elevated costs for essentials… Read More

Job creation supported by business-cycle-agnostic sectors. The creation of 206,000 jobs in June brings total net hiring for the second quarter to 532,000, the lowest three-month total for employment growth since January of 2021. Much of the recent hiring slowdown has come from industries tied to the business cycle, including net job losses recorded during June in both the professional and business services sector as well as retail trade. Year-to-date job creation has been stronger… Read More

How small increases in unemployment could hit a tipping point Has the Federal Reserve held rates too high for too long? The opportunities a weakening economy creates

Inflation is making steady progress toward the Fed’s target Has the Fed held rates too high for too long? Investor considerations as we enter the next real estate cycle  

How demographics and psychographics are shaping CRE demand Why migration trends are changing the CRE outlook The new opportunities being created by evolving behavior  

The products and prices most influencing inflation One reason economists are “not a fan” of how inflation is measured The “outdated” inflation mechanics that allow CRE investors to see the future

The economic outlook for the remainder of 2024 Four potential economic scenarios and what they mean for CRE Why the CRE investment outlook is strengthening

Chairman Powell tells why the Fed is cautious about cutting rates Why the May inflation reading is so important to CRE investors When Wall Street expects the Fed to cut rates

Labor market moving closer to equilibrium even amid strong hiring. Total employment increased by 272,000 in May, coming in above the average monthly gain year-to-date. Despite this uptick in job creation, there are several signs that overall labor demand is cooling and moving closer in line with labor supply. Nearly half of last month’s hiring was concentrated in just two main employment sectors, which includes roles in government. It is likely that public sector staffing needs… Read More

CNBC Features Marcus & Millichap CEO Hessam Nadji Headwinds, Opportunities, and the Investment Climate  How will the mixed outlook on movie theaters impact retail real estate? The three types of experiential retail that are critical to the retail property outlook. Why retail properties are one of the most sought-after real estate investments. How interest rates and the capital markets are shaping the retail investment climate.