Continuing on the Path to Recovery
In an abbreviated edition of his semi-annual podcast to members of the CCIM Institute, RERC's Ken Riggs noted that while investors remain nervous about the volatility we are seeing in the stock and bond markets, much equity is still sitting on the sidelines "looking for a home." Commercial real estate—and the reduced amount of risk associated with this investment alternative—is looking decidedly more attractive. Even so, investors are taking the time to “get it right” during this prolonged recovery period…
2010 To Be Another Tough Year
RERC's Ken Riggs notes that while institutional real estate has been forced to mark to market and prices are close to bottoming out, the broader commercial real estate market still has a ways to go and it will take some time to "come clean." Listen to Riggs' view of what the industry and investors should expect in 2010 and beyond.
Dealing with a Distressed Market
As the process of repricing and an increasing number of distressed properties create more uncertainty for investors, commercial real estate is facing its greatest challenges since the 1990s. What should investors expect over the near term?
The Impact of Cap Rates on Values
From a pricing and value perspective, the institutional commercial equity real estate markets are facing headwinds that were never imagined a couple years ago. RERC's required cap rates have increased and now stand at 8.4 percent, which is very close to the level recorded in first quarter 2004. The question is, how much further--if at all--will they increase? (The complete article, "Valuation Navigates Steep Cliffs," is provided in the summer 2009 issue of the RERC Real Estate Report.)
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Urban Studies
Real Estate Research Corporation (RERC) was a pioneering force in the development of housing and urban economics. Through the years, RERC developed and implemented analytical techniques to measure urban and housing trends to determine their effect on individual communities. This involvement included the preparation of several manuals on land economics for the Department of Housing and Urban Development; studies for the City of Chicago and other municipal agencies on the impact of urban renewal programs and housing policies; and feasibility studies for affordable housing construction.
Several of these publications continue to be in demand by urban economists and are available by contacting RERC at 319.352.1500.
- The Costs of Sprawl: Environmental and Economic Costs of Alternative Residential Development Patterns at the Urban Fringe, prepared for the Department of Housing and Urban Development, the Office of Planning and Management, and the Environmental Protection Agency, 1974.
- Urban Infill: Its Potential As A Development Strategy, prepared for the Office of Policy Development and Research, and the Department of Housing and Urban Development, 1981.
- Lessons for States and Cities: A Handbook for Analyses of the Impacts of New Developments on Older Commercial Areas, prepared for the Office of Community Planning and Development, and the U.S. Department of Housing and Urban Development, 1982.
RERC has implemented the concepts developed in these studies for practical analysis of real estate development and urban revitalization. Public and private clients have used RERC's approach to evaluate the feasibility of land uses and the economic impact of proposed development.