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
    2/4/2015

    Demand for Rental Housing Posts Record Increase in 2014

    The fundamentals for the apartment sector are rapidly improving as the job market recovery gains momentum. Demand for rental housing surged in 2014, with the total number of occupied rental units increasing by 2 million units (first slide). This is a record increase in rental occupancy, according to Census Bureau data beginning in 1965, surpassing by a wide margin the previous record rise in rental occupancy of 1.5 million at the onset of the housing crisis in 2007.
  • Market Commentary Blog
    2/4/2015

    Economic Growth Cools in Q4; Outlook Remains Positive

    GDP growth slowed to a 2.6 percent annual rate in the fourth quarter, from 5.0 percent in Q3. Despite the deceleration in the headline number, however, the report was strong where it counts. Consumer spending, the mainstay of the U.S. economy, accelerated to a 4.3 percent annual growth rate, the strongest gain since 1993. The slowdown in overall growth stems from a decline in net exports due to weaker growth abroad and a stronger dollar.
  • Market Commentary Blog
    1/28/2015

    Challenges and Opportunities for Commercial Real Estate in 2015

    The outlook for commercial real estate markets and REITs has continued to evolve as the overall macroeconomic recovery matures. It is important to keep in mind just how much the momentum has changed. Two years ago, for example, the consensus outlook among the economists surveyed by the Wall Street Journal anticipated job growth averaging 160,000 per month. In January 2015, this panel expected job growth of 230,000 per month. It is certainly good news that after several years of disappointments, the economy finally appears to be hitting its stride.
  • Market Commentary Blog
    11/13/2014

    Commercial Property Update 2014:Q3

    Sustained above-trend job growth is having a broad impact on commercial property markets. Demand for rental housing has accelerated this year, allowing the apartment sector to absorb a significant increase in new supply with little impact on vacancy rates.
  • REIT Magazine
    9/22/2014

    Q&A with Jamie Woodwell, Mortgage Bankers Association

    James Woodwell
    The recession hit all property sectors across the board, but we are seeing the different property types come out of the recession at different paces. Multifamily has recovered the fastest, as the decline in the home ownership rate has led directly to improving fundamentals in the rental markets. 
  • REIT Magazine
    9/16/2013

    Fundamentally Speaking with Harris Trifon, Deutsche Bank

    Harris Trifon joined Deutsche Bank in 2009 and is currently global head of the CRE debt and co-head of the ABS research teams.
  • REIT Magazine
    5/16/2013

    Fundamentally Speaking with Bernard Markstein, Reed Construction Data

    Bernard M. Markstein, U.S. chief economist for Reed Construction Data, provides economic analysis and forecasts of commercial construction activity.

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