Kevin Fagan, Xiaodi Li, Ermengarde Jabir and Victor Calanog
The authors take a historical perspective and compare office market performance metrics and CMBS loan delinquency rates over the past two years with previous downturns.
Abstract
Purpose
The authors take a historical perspective and compare office market performance metrics and CMBS loan delinquency rates over the past two years with previous downturns.
Design/methodology/approach
What will happen to the office sector in the post-pandemic era? we examine this question from three perspectives. First, the authors discuss the (short-term) risk of commercial real estate investment with high inflation and rising interest rates. If investors want to use CRE as an inflationary hedge, the cash flow must increase enough to counteract growing cap rates given rising interest rates.
Findings
As it turns out, the COVID-19 recession has been notably innocuous. Third, the authors focus on medical office space – an emerging investment option for the office sector.
Practical implications
The authors remain somewhat positive (or at least less downbeat) about the future of the office market based on the data they reviewed.
Originality/value
The office market is experiencing an odyssey rather than an exodus, at least in the short run. However, the authors remain cautious and they are monitoring key signs, prepared for the possibility of (r)evolutionary change in the office sector.
Details
Keywords
Walter Block and Sarah Huddell
This paper aims to examine the case against land use zoning.
Abstract
Purpose
This paper aims to examine the case against land use zoning.
Design/methodology/approach
We approach this analysis from the perspective of economics, health and geography.
Findings
The findings of this paper suggest that the case against zoning is overwhelming.
Research limitations/implications
This result applies only to public zoning, not the private variety thereof.
Practical implications
Public zoning should be repealed.
Originality/value
This paper approaches this from three perspectives: economics, health and geography; this has not been done before.