Marcus and Millichap assesses economic headwinds
Marcus & Millichap recently presented a webinar on its 2022 Outlook, which examined how the economy, inflation and Federal Reserve policy are impacting the commercial real estate market. Presenters were Hessam Nadji, President and CEO of Marcus & Millichap, John Chang, SVP Research Services at Marcus & Millichap and Greg Willett, VP/National Director at Institutional Property Advisors.
Nadji noted that the total fiscal stimulus issued by the Federal Government in response to the COVID-19 pandemic was 26% of GDP, with stimulus spending starting immediately upon the onset of the pandemic-induced shutdowns. By contrast, during the global financial crisis (GFC), stimulus spending was only 6% of GDP and its availability was delayed 13 months from the start of the crisis.