Andy McCulloch says this Real Estate Cycle Could Go into Extra Innings
Andy McCulloch, Managing Director of Real Estate Analytics, discusses commercial real estate values and status of the current cycle. Prices today sit 20% above the previous ‘07 peak and Green Street believes valuations are in the ninth inning. Bullish signals from the bond and REIT markets took 180 degree turns early this year, leading to weak signals for the future direction of real estate values. McCulloch shares that healthy operating fundamentals and strong demand for U.S. real estate could lead this cycle into extra innings.