Real Estate Challenges for 2023... real estate finance and trading is harder to get in un-secured bonds

 2,761 views Apr 7, 2023

Owen Thomas, Chairman and CEO of BXP, on the outlook for real estate for the rest of the year and says challenges to the industry are tied the economy.

Transcript extracts:

Office and many forms of real estate are

1:13

economically sensitive. So I think in the premium end of the

1:16

market, what's impacting our leasing activity today is much more the economic

1:22

conditions and work from home. And the evidence of that that I would

1:26

give you is in 2022 last year, our company leased nearly 6 million square

1:31

feet of space, which is basically 95 percent of our long term averages.

1:37

And if you think about it, last year, you know, interest rates started to go

1:41

up and the economy was much more solid and there were a lot fewer people in the

1:45

office. Now you've moved to twenty three.

1:48

Office leasing is slowing down.

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