Chicago – Seyfarth recently published its 6th annual Real Estate Market Sentiment Survey. Seyfarth’s 2021 survey examines the industry’s current market sentiment as it grapples with a pandemic and a change in political power.
The survey found:
- The majority of respondents believe the Federal Reserve will not raise or decrease interest rates in 2021.
- The closing of public accommodations, the extension of tenant and borrower protections, and the economic fallout from the U.S. recession rank the highest in the minds of real estate executives.
- Most respondents believe any federal tax reform in 2021 will have minimal to no impact on the industry. A 50/50 split in the United States Senate could have dampened any chance of significant reform.
- While most respondents believe the new Biden administration will not have a positive impact on the real estate industry (54%); 46% of executives think the 46th president will have a positive impact.
- The national vaccine roll-out and universal COVID fatigue have many craving a vacation in 2021. As a result, most survey respondents believe resort hotels and the hospitality industry will be the first sector to rebound from the pandemic.
- Following a year of tremendous hardships, the CRE industry is overwhelmingly optimistic about their own operations moving forward in 2021. A majority (85%) of respondents see 2021 as a year of opportunity for their companies.