IN THIS ISSUE
Economy — Remains positive amid slowing in both growth and job creation.
Concerns as yield curve inverts. Record budget deficits, trade wars, price volatility. Q2 2019 construction deliveries down 30% year over year.
Feature — CMBS hotel exposure – cyclical, front, and center in a recession. And Houston has a problem.
Three trends we are watching
- Cyclical highs in property prices
- Slowing construction deliveries
- Economic Uncertainty