The Walker Webcast Dr. Peter Linneman, Leading Economist, Professor Emeritus, The Wharton School of Business Part 22
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Jul 10, 2025 
Renowned economist Dr. Peter Linneman, Professor Emeritus at The Wharton School, provides keen insights into commercial real estate. He discusses the surprising optimism in Manhattan's office market and the impact of tariffs and oil prices on GDP. The complexities of the Consumer Price Index spark a light-hearted debate on inflation strategies from the Fed. He also explores challenges in multifamily housing and contrasts housing strategies in Houston and Los Angeles, all while addressing the employment landscape for new graduates.
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Wealthy Developers Accept Timing Risks
- Large, wealthy developers like Dell and Lefrak are willing to accept timing risks in development decisions.
- They can afford to be early by years and take a long-term view rather than flipping assets quickly.
Economic Growth Trumps Back-to-Office
- Economic growth drives office space demand more than back-to-office policies.
- Companies expanding and hiring influence office markets more than participation rate debates.
State and Local Gov Hiring Offsets Federal Cuts
- Federal government employment has declined but state and local governments are hiring aggressively.
- Overall government job growth supports broader economic activity despite federal cuts.