Returning for his third podcast appearance today is Jim Costello, the Senior Vice President at Real Capital Analytics. As an economist, Jim looks at the commercial real estate world and helps people understand the intersection between the performance of the market and the capital that flows into it.
With a far-reaching knowledge regarding global flows of capital, Jim gets into how that flow into real estate has changed since his pre-pandemic guest appearance. We hear about why Canadian real estate is so sought after and how its current market stacks up against the rest of the world.
Topics covered include:
- Why Canadian investors prefer investing in other developed countries.
- Where most overseas money flowing into Canada comes from.
- Focusing on investment in the largest cities.
- Currency fluctuations when investing internationally.
- Why Toronto’s real estate is less liquid than cities such as New York and London.
- How the apartment sector has become an institutional investment class globally.
- The rise of alternative CRE in Canada and globally.
- Redirection of capital that began in Spring 2020.
- The majority of the world’s population being prime working age and what that causes.
- Coming out of COVID-19 restrictions and what that means for investment.
- Older-aged populations deploying less capital.
- A story of foreign investment gone wrong.
- Why Jim thinks land is a wild asset class, especially in China.
- The increase of self-directed investments and positioning teams around the world.
More about our guest….
Jim Costello is an economist who analyzes the commercial property markets. Jim communicates stories on market performance to clients of Real Capital Analytics by way of writing and presentations.
Jim has worked in the commercial real estate space on issues of urban economics since 1990, including a 20-year stint with CBRE’s Torto Wheaton Research team. Jim expanded the reach of the Torto Wheaton Research team developing forecasts of global market fundamentals. He also developed approaches to answer investor questions on asset values and relative investment opportunities. Jim provided advice to the Treasury Department and other policy makers in the aftermath of the Global Financial Crisis and helped educate these professionals on commercial real estate performance.
Jim is a member of the Counselors of Real Estate. He is also a member of the Commercial Board of Governors of the Mortgage Bankers Association.
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