The TreppWire Podcast: A Commercial Real Estate Show 346. Back to School, Back to the Office, & Back to the (Quantum) Future of CRE
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Aug 15, 2025 This week, the discussion tackles the Federal Reserve's challenges amid political pressures and rising inflation rates. An intriguing CBRE survey reveals how companies are increasingly enforcing return-to-office mandates. The podcast also analyzes the performance of student housing, particularly with international students returning. A fascinating dive into the potential effects of quantum computing on commercial real estate reveals parallels to the AI boom. Lastly, there are updates on converting NYC hotels into affordable housing and recent multifamily transactions in Portland and Seattle.
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Fed Near Neutral, Cuts Become Political
- The Fed sits nearly at neutral policy with debate over whether 2% inflation target remains appropriate.
- Political pressure makes any near-term cut feel symbolic and highly scrutinized.
Noisy CPI Signal, Tariffs Will Lag
- July CPI was noisy with headline easing but core rising due to sectoral spikes like airline fares.
- Tariff impacts will phase in over six to nine months rather than appear immediately in CPI.
Return-To-Office Momentum Accelerates
- CBRE survey shows firms made the most progress returning workers to offices since 2020 with stronger monitoring and enforcement.
- Companies plan 3.2 days/week on average and more expect to expand or keep footprint rather than shrink it.