Even with the pandemic and the grim economic landscape of 2020, the greater Kansas City metro area continues to plow ahead with growth and building as we head into 2021. The Kansas City Business Journal recently outlined several top projects in our area and gave us an update on progress. You can read more on these 10 projects and how they are impacting the construction landscape.
This week, the MBA Newslink published the Urban Land Institute in Washington, D.C.,’s findings from a survey of real estate economists. Overall, the consensus is that the recession caused by the pandemic will be short-lived and we may see an above-average GDP growth in 2021-2022. Some good news! Overall, the ULI Semi-Annual Real Estate Economic […]
Nearly 52% of young adults, ages 18-29, are living at home with their parents. That’s the largest percentage since the Great Depression. The COVID-19 Pandemic is to blame, says a recent Pew Institute Research study. This information, has many investors and players in the multifamily sector hedging their bets to see this pandemic housing situation […]
The UES team attended MBA CREF in San Diego this week. It’s always a great meeting, chocked full of quality education, networking with clients and making new connections. The MBA does a good job of delivering market trends, forecasts for the year ahead and information that we need to help guide our environmental consulting services.
A few things that stood out this year:
1. Most leaders agree that while we’ve heard a recession is coming, we are still in a good space in terms of growth and liquidity in the market. Lenders are making better credit choices and commercial real estate professionals are focusing on making good deals that can ride out hiccups or shifts should they arise. From listening in on one panel Monday morning, several market leaders believe we are still 18-24 months away from seeing a slow to growth and decreased liquidity. Globe St.Com has a deeper dive into this particular panel and their discussions.
2. Across the board, commercial real estate professionals are in agreement that international affairs, such as concern over the spread of the coronavirus, and the upcoming US election has the potential to impact Q4 of 2020 and the start of 2021. Speakers at MBA stated that their organizations are planning ahead for some volatility in Q4 and working to see how many deals they can close prior to November.
3. Multifamily continues to have it’s moment. And, the market is seeing a wide variety of lending players jumping in. Banks are more involved than in prior years in providing capital. CMBS is making a comeback and the ultra-wealthy are getting involved in the space through investment funds.
Lenders involved in the multifamily market in 2020
Stay tuned to the UES blog for a few more highlights from the last day!
