Outlooks

After a decade of strong performance in which property prices more than doubled, the commercial real estate market, like many other markets across the globe, was halted in its tracks by the pandemic.

Despite multiple “worst-ever” indicators, U.S. equity and corporate credit markets rallied back to near pre-pandemic levels in Q2. With markets trending one way and economic data another, we’re left with mixed signals.

Q3 starts off at a weaker place than any quarter since WWII as a result of the COVID-19 pandemic, but with reopening has come optimism.

The outbreak of COVID-19 has caused an unprecedented dislocation in economic activity. We assess the current economic reality, the state of the CRE market as it entered this crisis, and what we’re watching as we progress through it.

We present a series of articles to offer guidance to investors, context from prior economic cycles, and details of policy solutions and expected impact.

COVID-19 impacts on corporate credit markets