The Economy and Commercial Real Estate [REALTOR® University Speaker Series]

Presentation by Dr. Calvin Schnure, National Association of Real Estate Investment Trusts, at the REALTOR® University Lecture Series
Summary by Jed Smith, Managing Director, Quantitative Research

The REALTOR® University Brown Bag monthly lecture series features presentations by leading economists, analysts, and social scientists on evolving national and regional issues of interest to REALTORS®. The presentation by Dr. Calvin Schnure focused on the economic outlook and its implications for real estate:

Dr. Schnure first discussed the mixed economic recovery: problems with GDP growth and the job market on the negative side; consumer deleveraging, housing market recovery, and reduced drag in government spending on the positive side. Overall, he concluded that the impact of the economy on commercial real estate appeared positive:

  • Commercial vacancy rates high, but trending down.
  • Rent growth rising.
  • Commercial property prices recovering.
  • Commercial sales activity raising concerns about the supply of space overblown.

As a Vice President of NAREIT he provided extensive information on the Real Estate Investment Trust (REIT) industry, including types of REITS, operating attributes of listed REITS, Investment Attributes, investment performance, and diversification correlations between REITS and other financial investments.

Both the talk and slides are available at

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