Intelligent Investment

What’s Up With That? The outlook for commercial real estate in 2024

January 2, 2024 42 Minute Listen


Bonus episode: Q&A on the outlook for 2024

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Our annual must-listen episode. Chief Economists Jim Costello (MSCI Real Assets) and Richard Barkham (CBRE) prognosticate on the global economy, interest rates, capital markets and investment opportunities across commercial real estate sectors.

What’s Up With That? The outlook for commercial real estate in 2024

January 2, 2024 42 Minute Listen

What’s Up With That? The outlook for commercial real estate in 2024

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Unique insights on what matters most today in commercial real estate.

Key Takeaways:

  1. While economic growth is expected to slow in 2024, commercial real estate capital markets should strengthen later in the year.
  2. The era of ultra-low interest rates is likely over. Investors will have to adapt to an environment where money is no longer essentially free.
  3. Tremendous opportunities will emerge for well-capitalized investors with an appetite for prudent risk.


Photo of Jim Costello

Jim Costello

Executive Director, MSCI Research

Jim is chief economist on the MSCI Real Assets team and is based in New York. He is the principal author of the US Capital Trends report series and a frequent speaker at commercial real estate conferences. At Real Capital Analytics, which MSCI acquired in 2021, Jim was a leader for analysis across the commercial property universe. Jim also spent two decades at Torto Wheaton Research (now known as CBRE Econometric Advisors) working on issues of real estate risk and forecasting. He recently finished serving a term on the Commercial Board of Governors of the Mortgage Bankers Association and is currently a member of The Counselors of Real Estate.

Photo of Richard Barkham, Ph.D.

Richard Barkham, Ph.D.

Director, Executive Managing

Richard Barkham leads a global team of nearly 600 research experts who help CBRE’s clients understand the forces shaping the commercial real estate industry. One of the world’s leading real estate economists, Richard combines the theoretical framework of an academic with hands-on experience in development to deliver actionable insights for real estate investors and occupiers. A frequent source for both clients and journalists navigating moments of economic volatility, he is particularly interested in the role government stimulus plays in long-term economic recoveries.


Photo of Spencer Levy

Spencer Levy

Global Client Strategist & Senior Economic Advisor, CBRE

Spencer Levy is Global Client Strategist and Senior Economic Advisor for CBRE, the largest commercial real estate services firm in the world. In this role, he focuses on client engagement and public-facing activities, including thought leadership work performed in conjunction with CBRE Research. He also serves as Co-Chair of the Real Estate Roundtable’s Research Committee.


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