COVID-19 pandemic wreaks havoc on traditional commercial real estate metrics
National, local experts opine ‘new normal’ in time of novel coronavirus
by Terrance Thornton | Apache Junction/Gold Canyon Independent
A commercial real estate brokers forecast provides illustration to what many Arizona business leaders are realizing: a deep recession appears imminent.
The forecast was created by The Center for Real Estate Theory and Practice at the W.P. Carey School of Business at Arizona State University.
“I was taught in graduate school when learning how to do population projections, one of my professors told me: ‘Those who know how to predict the future, know better,’” said Mark Stapp, executive director at The Center for Real Estate Theory and Practice.
“I always have to preface these conversations when we are talking about forecasts. They can help us better understand what the future might be. The one we are discussing is trying to look six months forward in time.”
