AFIRE Podcast 2025.04: Spencer Levy on 2025 US Real Estate Trends

How will we get out of the problems in the office sector in the US? How will we solve the housing crisis? Will we see an escalating environment of global trade tensions getting in the way of cross-border investing? What do you do if you can’t count on dropping interest rates?

Spencer Levy is the global client strategist and senior economic advisor at CBRE—and someone who’s never afraid to tell you what he thinks. In the latest mini-episode to post in our series about commercial real estate in 2025, he answers these questions and more.

“I think the big thing is that for the last ten years, a lot of people in our business did a lot of successful, profitable deals because cap rates were compressing,” Levy says. “Cap rates have now expanded… so next year, and probably for the next several years, we’re going to see who are the really good real estate operators.”

Other themes:

  • Why it’s going to be more of a sub-sub-market selection game
  • Why office will surprise us in 2025
  • Why appraisers and regulators need more love in 2025

Watch the video or listen to the audio episode for answers.


DISCLAIMER

The publisher of the AFIRE Podcast is not engaged in providing tax, accounting, or legal advice through this publication. No content published in the AFIRE Podcast is to be construed as a recommendation to buy or sell any asset. Some information included in the AFIRE Podcast has been obtained from third-party sources considered to be reliable, though the publisher is not responsible for guaranteeing the accuracy of third-party information. The opinions expressed in the AFIRE Podcast are those of its respective contributors and sources and do not necessarily reflect those of the publisher.

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The AFIRE Podcast with Gunnar Branson is the official, multiple-award-winning podcast of AFIRE, the association for international real estate investors focused on commercial property in the United States.

Hosted by AFIRE CEO Gunnar Branson, the podcast features informative and in-depth conversations with experts across the full spectrum of real estate, investment, sustainability, economics, geopolitics, and urbanism with a focus on helping each other become Better Investors, Better Leaders, and Better Global Citizens. To learn more, visit afire.org/podcast

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Benjamin van Loon, Communications Director
bvanloon@afire.org | +1 202 312 1405

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