At the recent 2023 ULI Spring Meeting in Toronto, panelists noted that transaction volumes have dropped significantly with the slowing of lending and bank failures.

AFIRE, the association for international real estate investors focused on commercial property in the United States, has released its AFIRE International Investor Survey: Q1 2023 Pulse Report, underwritten by Holland Partner Group. U.S. market shows stability as a preferred global destination for investment with allocations up 6 percent from 2022, relative to a 5 percent decline in European investment.

For grizzled veterans of commercial real estate, the return to a “negative leverage” environment may have been unforeseen but surely was not unique.

The boom in private-equity real estate fundraising that has delivered a slew of billion-dollar megafunds in recent years has slammed into some formidable headwinds. Yet, near-term challenges are not diminishing the appetite for capital among a still-crowded field of fund managers and sponsors.

Developers and investors seeking capital to finance commercial real estate are facing a new reality in which capital is both more expensive and less available. Borrowers still have options, but those options depend on the credit quality and type of deal, as well as what that borrower is looking for in that loan.

Real estate economists offered a less optimistic forecast of the near-term U.S. real estate and economic environment compared with six months ago, downgrading predictions for a wide range of economic, capital market, and real estate variables. Some of the biggest changes to forecasts included 2023 gross domestic product, job growth, and private real estate returns, according to the Fall 2022 ULI Real Estate Economic Forecast.

Growth pours north out of Dallas, the city nicknamed “the Big D,” and one result has been a boom in the suburb of Frisco, which earned the title of the nation’s fastest-growing city of the 2010s, according to the U.S. Census Bureau. Frisco’s growth has spread to nearby Celina, which has grown 10x since 2010.

The Dodge Momentum Index, a monthly measure of the initial report for nonresidential building projects, improved 5.7 percent in September from the revised August reading. In September, the commercial component of the index rose 2.9 percent, while the institutional component also increased, seeing a double-digit gain of 11.7 percent.

At the 2022 ULI Housing Opportunity Conference, a session looked at the high cost of the gap between U.S. population and job growth and the creation of housing where people want to live.

The pandemic is a bit like jury duty: no one quite knows just how long it’s going to last. That analogy set the stage Tuesday morning for a panel discussion titled “Economic Outlook and What It Means for Real Estate”—with a keynote by Austan Goolsbee, professor of economics at the University of Chicago’s Booth School of Business, followed by a discussion with Constance Moore, former president and chief executive officer of BRE Properties and a ULI trustee and governor, and Roy March, chief executive officer of Eastdil Secured, also a ULI governor.