February was chock-a-block with award shows. Winners went home with trophies, swag and bragging rights and losers got just swag. As different economic measures competed to have the slickest PR campaigns, the award for best performance in a "leading" role (economic indicator) went to....employment! This was a highly predictable category as employment gains have been the superstars of economic news in recent months. Consumer confidence has ably played a supporting role, buoyed by the good news from the labor market. This does not mean all is well with the economic box office.
The housing market appears to be the perennial nominee, always nominated but never winning. Maybe 2015 will be the lucky year for housing. The capital markets turned in a great performance and won awards in the technical categories. Loan volumes for commercial and multifamily loans won big in 2014, inching closer to their heyday a decade ago. CMBS issuance struck a chord with investors and was rewarded handsomely with a great start in 2015. Commercial real estate remains an audience favorite and the romance with expensive trophy properties continues.
Source : CBRE Global Investors