NAR Chief Economist Says Commercial Real Estate Will Revitalize, Calls on Federal Reserve to Consider Cutting Interest Rates
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Thursday, November 16, 2023
ANAHEIM, Calif., Nov. 16, 2023 (GLOBE NEWSWIRE) -- Commercial property rates are expected to stabilize – aside from office space – and commercial real estate will revitalize, according to NAR Chief Economist Lawrence Yun.
Key Points:
- ANAHEIM, Calif., Nov. 16, 2023 (GLOBE NEWSWIRE) -- Commercial property rates are expected to stabilize – aside from office space – and commercial real estate will revitalize, according to NAR Chief Economist Lawrence Yun.
- “There’s tremendous difficulty in the commercial real estate market with higher interest rates,” Yun explained.
- “The small-sized banks – community and local banks – have much larger exposure to commercial real estate,” said Yun.
- The Federal Reserve should consider cutting interest rates as we go into early next year.