BLS: U.S. Economy Adds 29,000 Jobs in September, Falling Short of Expectations
Why this matters
Commercial real estate continues to digest a multi-year reset in cost of capital. Transaction velocity is below the 2019-2021 trend but improving, cap rates have stabilized across most stabilized property types, and the bid-ask gap has narrowed materially in the past two quarters. Sponsors with permanent capital and operating platforms have an advantage in the current execution environment. Washington office has been a leading conversion market in the cycle, with multiple downtown Class B assets entering office-to-residential programs in the last twelve months. The next twelve months will continue to reward underwriting discipline and operational sophistication over balance-sheet aggression.
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On the RET wire
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WASHINGTON, D.C. — The U.S. Bureau of Labor Statistics (BLS) has reported that the U.S. economy added 29,000 jobs in September. This figure falls short of the roughly 84,000 new jobs estimated for the month by Dow Jon…
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