1. KEVIN WARSH JACKSON HOLE KEYNOTE In an August 28 keynote address at the annual Jackson Hole Economic Policy Symposium, Federal Reserve Chair Kevin Warsh offered his strongest signal yet on the Fed’s current policy stance, stating he would be “hard pressed to describe broad financial conditions as restrictive,” naming PCE as the inflation gauge …
1. CPI INFLATION According to the latest MSCI-RCA Commercial Property Price Index, US commercial real estate prices rose 0.2% year-over-year in July and 0.1% from June, implying an annualized pace of 1.2% and the slowest annual gain in the index since January 2025. CBD Office led all property types by a wide margin, rising 9.9% …
1. CPI INFLATION According to the Bureau of Labor Statistics, consumer prices rose 0.1% in July and rose 3.4% year-overyear, with both figures landing in line with consensus forecasts. Core CPI rose 0.2% in July after being unchanged in June, bringing the annual rate down to 2.5% from 2.6%. Shelter rose 0.1% for the month, …
1. GDP: Q2 ADVANCED ESTIMATE According to the advanced estimate released by the Bureau of Economic Analysis (BEA), real GDP grew at an annualized rate of 1.5% in the second quarter of 2026, down from 2.1% in the first quarter and below the consensus estimate of 2.1%. It is the second consecutive quarter of decelerating …
1. CPI INFLATION Consumer prices fell 0.4% on a seasonally adjusted basis in June, its largest single-month decline since April 2020, according to the latest CPI release by the Bureau of Labor Statistics. Prices rose 3.5% over the past 12 months. A retraction of energy prices drove the decline. The energy index fell 5.7% in …
1. 3RD QUARTER GDP Real GDP expanded by a seasonally adjusted annualized rate of 4.3% during the third quarter of 2025, according to the latest estimate from the Bureau of Economic Analysis. Growth was well above the 3.3% consensus estimate, propelled by expanded consumer and government spending. Consumer spending grew at a 3.5% annual pace, …
1. FED INTEREST RATE DECISION The FOMC cut the benchmark Federal Funds rate by 25 basis points at their December policy meeting. It was the committee’s third consecutive rate cut, widely expected by markets. The decision was made along a 9-3 vote, the most divided the FOMC has been on a vote in over six …
1. ANNUAL CRE PRICE GROWTH CLIMBS According to the MSCI-RCA Commercial Property Price Index, which measures repeat-sales transaction pricing, CRE prices are up 4.2% year-over-year through October, its largest annual increase in three years. Commercial property prices rose 0.8% on the month, bringing the annualized rate to 10.7%. Notably, however, deal volume fell 22% in …
1. EMERGING TRENDS IN REAL ESTATE According to the 2026 Emerging Trends in Real Estate Report by ULI-PwC, some of the industry’s key themes heading into next year include the foggy outlook for capital markets, niche asset classes becoming more essential, demographic shifts that will define demand, and the growing influence of artificial intelligence. For …
1. CPI INFLATION According to a delayed release of the Bureau of Labor Statistics’ September Consumer Price Index Report, prices rose 0.3% month-over-month, a softer pace than most analysts had expected. However, consumer prices rose 3.0% year over year, a slight uptick from August. Core-CPI inflation increased 0.2% from August, below market expectations of 0.3%. …