Whatever happens to interest rates next year, finance costs are not returning to pandemic lows. That’s a big burden for investors, developers and contractors, as well as home buyers and owners in mortgage stress.
The dominant real estate issues of 2023 were the rising cost of money, the falling value of office towers, and the fevered debate over housing.
Each will play further in 2024. The sector will have to deal with the peak cost of money, the real value of office towers, and the outworking of a multitude of regulatory and legislative responses to the housing crisis.
