John Chang

Join John Chang, a seasoned expert in commercial real estate research and advisory, as he dives into the impact of tariffs, immigration, and potential government shutdowns on the sector. He argues that tariffs are leading to persistent inflation rather than short-term spikes and discusses how immigration cuts are tightening the labor supply, driving up wages. With insights on the ripple effects across various industries, Chang highlights opportunities for investors to navigate uncertainty and capitalize on localized demand, especially in an evolving economy.

John Chang, head of research at Markston Millichap, dives into multifamily market trends and shifts in migration. He sheds light on the impact of August’s employment revisions on housing demand, particularly in high-construction Sun Belt areas. Chang discusses how slowing migration may affect absorption rates and emphasizes the rising significance of lease renewals over new leases. He presents a balanced outlook, predicting stability in cap rates and a potential rebound for select Sun Belt markets after excess supply is addressed.

John Chang, head of research at Marcus and Millichap, dives into the current economic landscape, highlighting a slow rise in inflation and its implications for Fed rate cuts. He discusses the rare positive leverage available for multifamily financing and the ongoing decline in construction starts. Chang notes the challenges posed by high labor and material costs, while also uncovering favorable long-term trends in certain asset classes like Class A/B multifamily and medical offices, rife with opportunities as conditions evolve.

John Chang, head of research at Marcus Millichap with over 20 years in commercial real estate, joins Matt Faircloth for an insightful chat. They debate the future of multifamily housing, exploring rent ceilings and demand dynamics. John highlights how construction tariffs might limit supply amid rising Gen Z household formations. The discussion also touches on the potential recovery of office spaces and opportunities in hotels trading below replacement costs. They conclude with valuable insights on recession risks and the best times to build reserves or sell.

John Chang, who leads the research team at Marcus and Millichap and has been deeply involved in commercial real estate since 2007, shares valuable insights. He delves into the latest jobs report and its implications for the Fed's interest rates, highlighting looming policy uncertainties. Chang discusses the current labor market landscape, potential stagflation, and its varying impact on commercial real estate sectors. He notes the optimistic outlook for real estate amid evolving trends, emphasizing successful niches like necessity retail and the resurgence of office spaces.

John Chang, head of research at Marcus and Millichap, dives into the pressing seniors housing supply gap fueled by the aging baby boomer population. He highlights the urgent need for construction, as occupancies and rents soar. Switching gears, he discusses the multifamily market's resilience amid rising rents and record absorption rates, warning of looming labor shortages. With a significant drop in new housing starts, Chang paints a compelling picture for long-term investors seeking opportunities in both seniors housing and multifamily real estate.

John Chang, head of research at Marcus and Millichap, dives deep into the latest jobs report, revealing a sharp drop in job creation since April. He examines economic indicators like labor force participation and inflation trends, suggesting increasing recession risks. Chang discusses the Federal Reserve's dilemma with rising inflation against weak employment, making rate cuts unlikely. He concludes by predicting how these economic shifts will impact the commercial real estate landscape, particularly for apartments, retail, and industrial sectors in the coming year.

John Chang, a seasoned real estate investor and head of research at Marcus and Millichap, shares insights on the latest in commercial real estate. He emphasizes the importance of transaction velocity over dollar volume, demystifying current sales trends, particularly in multifamily and retail markets. Chang discusses nuanced cap rate trends, revealing how quality shifts influence market perception. He predicts 2025 could present a prime buying opportunity, thanks to stable interest rates and favorable tax conditions, making it an enticing time for investors.

John Chang, head of research at Marcus and Millichap and a veteran real estate investor since 2007, dives into a transformative proposal that could let U.S. retirement funds invest in private markets, especially commercial real estate. He reveals how this shift could dramatically reshape cap rates, challenging the belief that they closely follow interest rates. Instead, Chang emphasizes the importance of capital flows and investor demand on market dynamics, urging listeners to prepare for a potential wave of capital that could significantly impact property values.

In this discussion, John Chang, a commercial real estate expert from Marcus & Millichap, shares his insights on the impacts of recent policy changes. He delves into how new tariffs on materials could raise construction costs and stifle building activity, particularly affecting the multifamily sector. Chang also highlights the potential labor shortages due to stricter immigration policies, which may worsen the housing supply crisis amid high rental demand. His analysis provides a critical look at the intersection of economic policies and real estate trends.