Q4 2021 CRE Quarterly Economic Briefing
A Year That Broke Records: CRE in 2021, and the Outlook for 2022
Join us for our Quarterly Economic Briefing for the fourth quarter of 2021 on Thursday, February 17. In this webinar, Dr. Victor Calanog, Head of Commercial Real Estate Economics, and Kevin Fagan, Senior Director of CRE Economic Research, will discuss the latest trends in commercial real estate economics and performance metrics.
From US GDP growth at its strongest since 1984, to apartment rent growths that set a new 42-year high; to inflation rates that haven’t been observed since 1982, to wage growth at its highest since 2001 – the year 2021 saw activity in the economy and CRE ramping up at a furious pace.
Some key takeaways from this presentation:
- Multifamily poised to have another strong 2022, with supply growth remaining relatively muted
- Industrial vacancies dipped throughout 2021 at rates unseen in a decade, declining by anywhere from 330 to over 500 basis points by subtype
- Continuing uncertainty about the long-term future plague the office and retail sectors, but even recent historical trends show some stabilization
- Capital markets reflect the broad recovery, with a record number for CRE loan originations, and declining delinquencies across lender portfolios
- The next 1-2 years will likely be volatile, given the interplay of inflation and monetary policy, and expected increases in interest rates
- Climate preparedness and sustainability will be increasingly important for the CRE market going forward
If you have any questions about this event, please contact us.
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SpeakersVictor Calanog, PhD Head of CRE Economics Moody's Analytics
Kevin Fagan Senior Director, Head of CRE Economic Analysis Moody's
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Victor Calanog, Ph.D. CRE® is the Head of Commercial Real Estate Economics at Moody’s Analytics. He and his team of economists and analysts are responsible for the firm’s commercial real estate market forecasting, valuation, and portfolio analytics services.
Dr. Calanog's research has received awards and fellowship support from several institutions, including the Ford Foundation, the Russell Sage Foundation and the Penn Lauder Center for International Business Research.
Kevin is a senior director and Head of CRE Economic Analysis at Moody’s, responsible for research, thought leadership and strategic initiatives for the Moody's CRE group, with a focus on capital markets and climate risks. He’s the industry member chair of the Commercial Real Estate Finance Council ESG and Sustainability Initiative. He was formerly director of CRE and CMBS research in the Moody’s Investors Service. Prior to joining Moody’s, Kevin held CRE research roles at ING Clarion and Jones Lang LaSalle. He also practiced as a structural engineer, designing large scale commercial buildings in California. Kevin holds an MS from the Massachusetts Institute of Technology and a BS from the University of Texas at Austin.