Macroeconomic trends continue to be the big story in the world of commercial real estate, according to Bob O'Brien, U.S. real estate services leader at Deloitte.
In a video interview with REIT.com at NAREIT's Washington Leadership Forum, O'Brien discussed some of the key themes in the commercial real estate industry. He noted a number of concerning developments related to the economic recovery. He pointed out that while job growth has increased in early 2012, unemployment remains high and consumer incomes are stagnant.
"This economic recovery is still very fragile," he said.
O'Brien also highlighted the ongoing issues in the commercial mortgage-backed securities (CMBS) market as another major story. The signs of life in CMBS represent a positive sign for the industry, he said.
Watch the Video...Economic Trends Remain Key Story in Commercial Real Estate - YouTube via REIT.com
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