Contact Us Now

Cincinnati Office PHONE: 513-412-3481
TOLL FREE: 800-427-7212
FAX: 513-412-3482
Providence Office PHONE: 401-421-3763
TOLL FREE: 877-395-1031
FAX: 401-453-5847

 
 
 

OUR FAMILY OF
STRATEGIC TAX SERVICES

News

May 26, 2020

CRE Economists Think Current Recession Won't Be as Bad as the 2008 Crisis

 

GlobSt.com
By Angela Morris

Nearly 40 real estate economists and analysts feel the COVID-19 recession will impact real estate markets and values less severely than the 2008 financial crisis—except for retail and hotel real estate.

The economists predicted there will be a $275 billion decrease in real estate transaction volumes in 2020, according to a survey in May by the Urban Land Institute. But they expected transaction volumes to rise over the next two years, which would create a healthier capital market compared to the 2008 Great Recession.

“Real estate economists expect that while the top-line economic impact of COVID-19 will be much worse than the global financial crisis, US real estate market fundamentals and values will fare much better,” said William Maher, a leading member of the Urban Land Institute, in prepared remarks. “Only retail and hotel are expected to suffer a worse outcome.”

The institute's semi-annual survey covered the time period of 2020 through 2022. The organization reported its findings in the latest Real Estate Economic Forecast. The respondents came from 35 leading real estate organizations. Read more.

 
Back to Top