Calvin Schnure

Calvin Schnure

Calvin Schnure is Nareit’s senior vice president, research & economic analysis. He analyzes developments in the macro economy and their impact on REITs and commercial property markets, and on financial returns to REITs.

  • Market Commentary Blog

    REIT Markets Edged Higher for the Second Week; Volatility is Down

    Most sectors were up, including a 10.3% total return for timber REITs, a 6.9% total return for specialty REITs and 6.7% total return for commercial financing mREITs.
  • Market Commentary Blog

    April Employment Report Shows Record Job Losses, Unemployment

    The two largest risks to the economy from recent layoffs are that job losses spread from the front-line sectors into the broader economy, and that temporary layoffs translate into permanent job losses.
  • Market Commentary Blog

    Most REIT Sectors Edged Higher Last Week

    Nine of the 14 REIT sectors posted a positive total return.
  • Market Commentary Blog

    COVID-19 Shutdowns Impacted CRE Markets Right Away

    The business closures and social distancing designed to slow the spread of COVID-19 had a significant impact on demand for commercial real estate, vacancies and rent growth across the major property sectors.
  • Market Commentary Blog

    Market Conditions Calm a bit for REIT Returns

    Last week the index posted a total return of negative 4.5%, the second week of single-digit moves after much sharper gyrations both up and down in the early stages of the crisis.
  • Market Commentary Blog

    Weakness in Durable Goods Orders Focused on Transportation

    We are not expecting a “V” shaped recovery because some effects of the virus are likely to remain for quite some time. This news on durable goods orders, though, is consistent with underlying business fundamentals remaining intact for now despite the shutdown.
  • Market Commentary Blog

    REIT Share Prices Little Changed Last Week, Q1 Earnings Season Opens Soon

    In more normal times a weekly move up or down of nearly 4% would be major news, but in a period of heightened volatility during the covid-19 crisis, this is the smallest move in quite a while.