The CRE Finance Council’s Fourth-Quarter 2021 CREFC Board of Governors’ Sentiment Index shows a drop in overall sentiment for the second consecutive quarter. After hitting an all-time high of 119.2 in Q2 of last year, it now stands at 105.2.
The primary driver for the change was a meaningful shift in the outlook for the U.S. economy in 2022. The Q4 survey indicated only 27% of the board expects the economy to perform better, down from 67% in Q3.
“Given the increases in COVID-19 infections late in 2021 as a result of the Omicron variant, as well as continued inflationary pressures, it was not entirely surprising to see a drop in overall sentiment this quarter,” said Lisa Pendergast, executive director of CREFC. “However, we are better equipped as a country and an industry to weather the Omicron storm than at any other point in the pandemic.”
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).