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Location Cubed
In this episode of Weaver: Beyond the Numbers: Location Cubed, hosts Howard Altshuler and Aaron Grisz discuss the vibrant real estate market in Dallas-Fort Worth (DFW) compared to other cities like New York and Los Angeles. They also touch upon the challenges and opportunities in converting office spaces and the current sentiment regarding interest rates in the real estate market.
Key Points:
- The optimism of DFW’s commercial real estate market is unmatched compared to other cities like New York and Los Angeles
- The potential of office space conversions in urban and suburban areas could mitigate the office distress cycle
- Future interest rates are not expected to drop in 2023 and will most likely remain constant
The DFW real estate market stands out with its optimism, unmatched by other major cities. Recent discussions with Karen Vermaire Fox from the Real Estate Council of Greater Fort Worth further reinforces this sentiment about the developments in the city. Howard and Aaron also observed similar positive trends in Dallas, Houston and San Antonio, supporting the notion that Texas is indeed “rocking and rolling.”
However, cities like New York still face challenges, especially compared to the thriving Texas market. The hosts also delve into the potential of converting office spaces into mixed-use residential units, especially in suburban areas. A recent conversion project in Dallas near Love Field is a potential blueprint for future conversions.
The discussion then shifted to the topic of interest rates. Despite general expectations of decreased rates, the real estate industry braces for a prolonged period with high rates. This sentiment contrasts with the general public’s and bond traders’ expectations. Howard shared, “At the beginning of the year, people thought it’d be back down by the end of the year. Right. And that hasn’t happened. And I don’t think it will.”
Subscribe and listen to future episodes of Beyond the Numbers: Location Cubed on Apple Podcasts or Spotify.
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