{"id":1004110398,"date":"2015-01-05T08:01:47","date_gmt":"2015-01-05T16:01:47","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004110398"},"modified":"2022-12-01T06:04:59","modified_gmt":"2022-12-01T14:04:59","slug":"january-issue-economists-view-whats-the-inning","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/january-issue-economists-view-whats-the-inning\/","title":{"rendered":"JANUARY ISSUE: Economist\u2019s View&#8211;Where Are We in the Cycle?"},"content":{"rendered":"<p><em>By George Ratiu, Guest Contributor<\/em><\/p>\n<div id=\"attachment_1004027317\" style=\"width: 160px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/02\/Nar-Stabilization-Report-George-Ratiu.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004027317\" data-attachment-id=\"1004027317\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/national-association-of-realtors-forecasts-more-stabilization-in-cre\/nar-stabilization-report-george-ratiu\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/02\/Nar-Stabilization-Report-George-Ratiu.jpg\" data-orig-size=\"571,800\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"Nar Stabilization Report-George Ratiu\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;George Ratiu&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/02\/Nar-Stabilization-Report-George-Ratiu.jpg?w=571\" class=\"size-thumbnail wp-image-1004027317\" alt=\"George Ratiu\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/02\/Nar-Stabilization-Report-George-Ratiu.jpg\" width=\"150\" height=\"150\" \/><\/a><p id=\"caption-attachment-1004027317\" class=\"wp-caption-text\">George Ratiu, NAR<\/p><\/div>\n<p>Not long ago I took part in a conversation during which someone asked, \u201cWhat inning do you think we are in during the current commercial real estate cycle?\u201d As a casual observer of baseball, I was inspired by the question to take a fresh look at some long-standing concerns. How many innings will this game last? Are we talking about a national commercial market as a whole, or select markets? Are we considering all commercial property groups or each asset category individually?<\/p>\n<p>At the higher end of the market, the investment trough occurred in 2009. Sales volume bottomed out at $68.1 billion, as the Great Recession caused investors to hit the \u201cpause\u201d button. This was especially true for gateway and major cities, which found their low during the first quarter of 2009. However, for secondary and tertiary markets, the decline continued well into 2010 and 2011.<\/p>\n<p>As primary markets began climbing back, with each successive quarter posting stronger sales backed by capital seeking safety, investors in smaller markets felt left out of the party. Only in 2013 did the resurgence of secondary and tertiary markets finally take hold. So while gateway cities have already notched the fifth year of growth, the secondary and tertiary markets have completed only their second year of gains. In other words, we are watching two altogether different ballgames.<\/p>\n<p><a href=\"https:\/\/digital.commercialsearch.com\/news\/publication\/?i=239796&amp;ver=html5&amp;p=26\">Read the full article in the January 2015 issue of\u00a0<i>CPE<\/i>. Access is free!<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Not long ago I took part in a conversation during which someone asked, \u201cWhat inning do you think we are in during the current commercial real estate cycle?\u201d As a casual observer of baseball, I was inspired by the question to take a fresh look at some long-standing concerns. <\/p>\n","protected":false},"author":952,"featured_media":1004027317,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[37301],"tags":[],"class_list":["post-1004110398","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>JANUARY ISSUE: Economist\u2019s View-Where Are We in the Cycle? - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/january-issue-economists-view-whats-the-inning\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"JANUARY ISSUE: Economist\u2019s View--Where Are We in the Cycle?\" \/>\n<meta property=\"og:description\" content=\"Not long ago I took part in a conversation during which someone asked, \u201cWhat inning do you think we are in during the current commercial real estate cycle?\u201d As a casual observer of baseball, I was inspired by the question to take a fresh look at some long-standing concerns.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/january-issue-economists-view-whats-the-inning\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-01-05T16:01:47+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-01T14:04:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/02\/Nar-Stabilization-Report-George-Ratiu.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"571\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Anna Spiewak\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/january-issue-economists-view-whats-the-inning\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/january-issue-economists-view-whats-the-inning\\\/\"},\"author\":{\"name\":\"Anna Spiewak\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/1bbb99675c2609ea2e6792f8b25d7b76\"},\"headline\":\"JANUARY ISSUE: Economist\u2019s View&#8211;Where Are We in the Cycle?\",\"datePublished\":\"2015-01-05T16:01:47+00:00\",\"dateModified\":\"2022-12-01T14:04:59+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/january-issue-economists-view-whats-the-inning\\\/\"},\"wordCount\":255,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/january-issue-economists-view-whats-the-inning\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2011\\\/02\\\/Nar-Stabilization-Report-George-Ratiu.jpg\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/january-issue-economists-view-whats-the-inning\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/january-issue-economists-view-whats-the-inning\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/january-issue-economists-view-whats-the-inning\\\/\",\"name\":\"JANUARY ISSUE: Economist\u2019s View-Where Are We in the Cycle? 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