Episode 338: Real Estate Investors Await Better Price Discovery Before Committing to the Market
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Constriction in the credit markets has caused real estate investment transactions to slow, but there\\u2019s still plenty of dry powder on the sidelines ready to execute as soon as clearer price discovery emerges, says Byron Carlock, real estate practice leader at PwC.
Speaking on the REIT Report, Carlock said that the current sentiment is one of cautious optimism. \\u201cDemand on the street from any of the product types is still quite good, especially multifamily, industrial, even the hotel sector. And frankly, retail is picking up again.\\u201d
Carlock discussed the sectors highlighted in PwC\\u2019s Emerging Trends in Real Estate 2023 report that are likely to be most insulated from economic uncertainty. Industrial was in first place, followed by multifamily. \\u201cAffordability of home ownership continues to suffer, so we\\u2019re moving to a greater renter orientation in our population,\\u201d he said.