CNBC Features Marcus & Millichap’s President and CEO Hessam Nadji Migratory Patterns in the Age of Coronavirus Factors behind suburban movement beyond the pandemic Office space strategies Outlook on suburban vs. urban real estate Trends impacting commercial real estate investments
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Yahoo! Finance Features Marcus & Millichap’s President and CEO Hessam Nadji COVID-19 and the Future of Commercial Real Estate Marcus & Millichap’s strategy/response to market disruption Structural vs. temporary changes to office/work models Mitigating the domino effect of rent nonpayment Finding opportunities within the market disruption
Fox Business features Marcus & Millichap’s President and CEO Hessam Nadji A Turning Point for Commercial Real Estate? Views on real estate pricing in the short- to mid-term Is the government response enough to support distressed real estate sectors? Does remote work… Read More
TD Ameritrade Features Marcus & Millichap’s President and CEO Hessam Nadji Reality Check and Prospects for Recovery Marcus & Millichap’s strategy pre- and post-COVID-19 What do occupancy rates mean for CRE? Impact of a shutdown on occupancies/rent Property type divergence now and in recovery Outlook on CRE investment and capital flows
Economy suffers most in postwar period. Gross domestic product (GDP) declined by 32.9 percent in the second quarter as businesses were closed or forced into limited operation to prevent overwhelming the nation’s healthcare system. The decline was in line with expectations and sets the stage for a recovery featuring the largest ever gain in GDP in the third quarter of this year. Although the reduction in the broadest measure of the economy highlights the depth… Read More
Stop-and-go economy reflected in consumer confidence. After surging as businesses reopened in June, the Consumer Confidence Index dipped in July as states reinstated some restrictions. The overall index is 92.6, down from 98.3 last month and 132.6 in February. July marks the fourth consecutive month the index has trended below the 100 threshold, following 44 months above the benchmark level. In addition to closures, uncertainty regarding the new level of federally supplemented unemployment benefits, a… Read More
Job growth increases as economic restoration continues. The labor market recovered further in June as unemployment fell 220 basis points to 11.1 percent and 4.8 million people returned to work, the largest monthly job gain on record. While the pace of rehabilitation is accelerating, total employment still lies 9.6 percent below its pre-pandemic level with 14.7 million fewer jobs in the market than in February 2020.
Reopening boosts consumption last month. Consumer spending posted impressive gains for a second consecutive month as states greenlighted a wider range of businesses to resume operations. Total retail sales advanced 7.5 percent last month, building on an 18.2 percent climb in May. The increase pushed year-over-year gains into positive territory, though sales sit well below pre-health crisis levels. In addition to greater access to both service-based and traditional retailers, the magnitude of stimulus pumped into… Read More
Labor market rebounds as restrictions begin to ease. Employers added 2.5 million jobs in May to bring the unemployment rate down to 13.3 percent, indicating the worst of the economic fallout may be behind us. Economic shutdowns resulted in job losses of 22.1 million in March and April, pushing the unemployment rate to 14.7 percent, the highest since 1948. While the employment gains are very encouraging, uncertainties and a long road to recovery for America’s… Read More
Apartment owners benefi t from retreating home sales. The sale of existing homes in March posted the largest month-over-month decline in more than four years, retreating 8.5 percent. Yet sales are up 0.8 percent on an annual basis as properties in escrow before the shelter-in-place restrictions move through the pipeline. Purchasing is expected to continue to slow into the spring buying season due to more complicated logistics, employment uncertainty and limited inventory. These factors benefi… Read More