At City National Bank's 2020 Economic & Investment Forum, real estate professionals in markets around the country talked about both status quo and upcoming trends. Watch the videos below to get an expert take on your local market.
Lou Christopher, Vice Chairman of CBRE
There is a lot of money on the sidelines, waiting to invest in real estate, says Lou Christopher. A new economy - a live, work, play environment - is redefining winners and losers in the real estate industry. New workplace design and a flight to quality, meaning Class A buildings with top amenities, are redefining the office market despite rising construction costs.
Ben Brown, Managing Partner, Brookfield Property Group
An overview of the New York City market shows it is a positive time to be investing in asset classes like real estate today, says Ben Brown. With record office leasing in 2019, despite new supply being delivered to the market, brand new development and redeveloped office spaces are competing on quality, location and rents across the city.
Lindsay Dunn, SVP City National Bank
"Things are looking good for real estate" in Los Angeles, according to Lindsay Dunn. In her remarks, she mentions good news including increasing valuations, lower vacancy rates and a thriving economy based on international trade through the twin ports of Los Angeles and Long Beach.
Michael Kazemzadeh, SVP City National Bank
Mortgage rates are down - but so are residential sales in Orange County. That speaks to unaffordability, with only 30 percent of potential buyers in a position to buy a home, says Michael Kazemzadeh. With continued high prices in 2020, news is not bright for homebuilders - except in the starter home market, he says.
Christoph Lohmann, SVP City National Bank
Co-working, the dominance of Google and new creative office space are highlights of the Bay Area real estate outlook for 2020, says Christoph Lohmann. And despite the closure of many legacy retailers, "clicks need bricks" - and online shoppers still want the option of a physical experience before they buy.
This video is for general information and education only and is provided as a courtesy to the clients and friends of City National Bank. It is compiled from data and sources believed to be reliable, however City National Bank does not warrant that it is accurate or complete. Opinions expressed and estimates given are those of the speaker as of the date of publish with no obligation to update or notify of inaccuracy or change.