The Walker Webcast Aaron Appel, Senior Managing Director, Capital Markets; Kris Mikkelsen, Executive Vice President, Investment Sales; and Ivy Zelman, Executive Vice President, Research and Securities
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Apr 3, 2025 
Aaron Appel, a Senior Managing Director specializing in Capital Markets, joins Kris Mikkelsen, an Executive VP in Investment Sales, and Ivy Zelman, an EVP focusing on Research and Securities. They dive into the complexities of the commercial and housing markets, discussing the impact of tariffs and the interplay between demand and supply. They emphasize a cautious optimism in the market's recovery, the resilience of luxury real estate in Florida, and changing cap rates in multifamily investments. They also explore the benefits of recent regulatory changes for landlords.
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Housing Market Challenges
- The housing market is challenged despite decreased interest rates.
- Increasing existing home inventory is causing lower prices.
Transaction Market Recovery and Liquidity
- Transaction market activity is recovering, but the rate environment will influence sales versus refinancing.
- Liquidity in the credit space enables sellers to buy time.
Strong Capital Markets and Bank Lending
- Capital markets are strong, with spreads tightening.
- Major commercial banks are re-entering the market and lending again.