Recently I had the pleasure of attending the SoCal CRE Market Trends event hosted by AIR CRE, featuring top experts in commercial real estate brokerage, construction, and shipping and transportation, all telling us what they’re now experiencing, and predicting for the months ahead.
Although the event was focused on what’s been happening in Southern California, there were a number of topics discussed that will impact the overall U.S. markets, too, including:
- The cost of shipping a 40-foot container from Asia to the U.S. has now dropped from $20,000.00, all the way down to $2,000.00.
- With the cost of new construction now having skyrocketed, combined with interest rates now having risen so substantially, too, land owners have now had to oftentimes reduce their asking prices substantially, in order for the total cost of the given project to make sense to developers.
- There is pressure being exerted on companies from employees who do not want to return to the office, and they want to continue working from home. One such example told the story of 80 employees of a company who all banded together and threatened to all quit simultaneously, if they were forced to return to working within the office again, and the company then gave in and caved to their demands.
Here is the link where you can watch these recent presentations by these top CRE market experts.