Jobs Jitters, Tariff Twists & CRE Activity Late-Summer Slowdown

The CRE Weekly Digest by LightBox

For the shortened week ending September 5, The CRE Weekly Digest team unpacks a turbulent few days in the markets. A federal court ruling that could unwind $500B in tariffs sent bond yields soaring, only to be reversed by disappointing labor data that pushed rates back down. With job openings now below the number of job seekers for the first time since COVID, investors are parsing signals of a labor market slowdown while equities stay frothy at record highs. Manus Clancy warns that the Fed may move slower than markets expect, leaving stocks vulnerable to disappointment. Dianne Crocker highlights the Fed’s Beige Book, which shows “50 shades of beige” across CRE but points to strength in data center construction and flight-to-quality office leasing. LightBox’s CRE Activity Index logged 104.8 in August, down from July’s highs but still above 100 for the seventh straight month. The team also breaks down a flurry of transactions: New York office towers trading at steep discounts, industrial portfolios commanding premium demand, and multifamily remaining the most active sector with $35B in Q2 sales. Plus: San Francisco’s AI-driven office rebound, McDonald’s rebooting value meals, and Manus’ annual (and very biased) Super Bowl prediction.

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00:36 Market Reactions to Tariff Ruling and Jobs Data

05:41 Bond vs. Equity Markets: A Deep Dive

07:24 Federal Reserve Dynamics and Market Predictions

09:48 CRE Market Trends and Insights

25:08 Spotlight on Sales Transactions

Have questions for the pod team? Send them to [email protected].

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