An important point for cross-border investors -- that is, for non-local owners -- is that boring middle markets are better than glamorous gateway markets.
The percent drops in major markets Q1 2019 to Q1 2020 per Savills underscore the point. Deal volumes are down over 40 percent in each of New York, San Francisco and Los Angeles.
Deal volumes in Dallas? Down 19 percent. Boston? Down 19 percent (To be honest, Boston qualifies in my mind as a glamour market; Savills’ numbers led me to reflect further on Boston’s economic base; I can see why the drop in Boston was less than half the drop in NY, LA, SF)
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