Key Takeaways
CUSHMAN & WAKEFIELD RESEARCH
To help our clients think through and prepare for various scenarios, we’ve included a base case scenario which we feel is the most probable scenario (50% probability) based on our modeling and current market conditions, as well as three other scenarios for your consideration. The results for all the scenarios we modeled can be found in the summary tables at the end of the report.
Economy: A rolling recession has begun.
Office: Further into the hybrid transition, office is becoming more nuanced than ever.
Industrial: Normalization phase to keep vacancy drifting higher—but context matters.
Multifamily: Fundamentals to strengthen on the other side of the supply wave.
Retail: Headwinds will not derail the retail sector’s resilience and adaptability.
Niche Sectors: No longer so “niche” as strong tailwinds power growing importance for institutional investors.
Capital Markets: Property values to remain under pressure, but investors gearing up for the Fed pivot.
In a recession now
Yes, H1 2024
Yes, H2 2024
Yes, 2025
Yes, after 2025
No recession