Economy
From interest rates to inflation, understand the impact of macroeconomic trends on the real estate capital markets.
The Beyond Insights series aims to deliver timely economic and market-driven insights to better inform your commercial real estate investment decisions.
Markets
From local market rents to cap rates, catch up on the latest capital markets insights.
Learn moreU.S. ECONOMIC MACRO COMMENTARY & INSIGHTS
Open Sesame? Reopening of the Strait of Hormuz Eases Oil Prices and Fed Nerves Alike
- Iran announced the Strait of Hormuz is fully reopened to commercial traffic, triggering a sharp decline in oil and natural gas prices
- While energy markets are easing, the prior supply shock has already filtered into inflation data and will remain relevant for the Fed
- Last week’s CPI print and softer consumer spending data reinforced a stagflation-lite backdrop heading into the next FOMC meeting
Markets received long-awaited relief Friday morning after Iran announced that the Strait of Hormuz was “completely open” for commercial vessels—a development that immediately unwound some of the largest geopolitical risk premium embedded in global energy markets. The move marks an important de-escalation after nearly seven weeks of extraordinary volatility.
Historical CIP & Core CPI
2026 Multifamily Investor Sentiment Survey
In December 2025, we surveyed over 250 of our trusted clients from various companies, with most holding senior-level titles, for our second annual Multifamily Investor Sentiment Survey. Our goal is to provide a comprehensive view of current market sentiments to our clients, and we plan to share our findings in our detailed report.
2026 Multifamily
Powerhouse Poll
In Berkadia’s Annual Multifamily Powerhouse Poll, we surveyed over 200 investment sales advisors and mortgage bankers to offer their unique perspectives on the state of the commercial real estate (CRE) industry.
Medicaid Joins the Shift: States Transition to PDPM Reimbursement Models
Medicare transitions from RUG to PDPM: In 2019, Medicare replaced the Resource Utilization Group (RUG-IV) system with the Patient-Driven Payment Model (PDPM), marking a major shift in how skilled nursing facilities (SNFs) are reimbursed. Under RUG-IV, payments were tied to therapy minutes, often incentivizing volume over patient needs. PDPM introduced a case-mix classification model that links…
FHFA Increases Multifamily Loan Purchase Caps and Continues to Focus on Mission-Driven Housing in 2026
Today, the Federal Housing Finance Agency (FHFA) announced the 2026 multifamily loan purchase caps for Fannie Mae and Freddie Mac will increase to $88 billion each for a total of $176 billion, up from $146 billion this year. Both Freddie Mac and Fannie Mae remain focused on mission-driven housing with an eye toward affordability, access,…
U.S. Government Shutdown Ends – Future of Monetary Policy Still Murky
On Thursday, President Donald Trump signed legislation to re-open the U.S. government after a 43-day shutdown, the longest in our nation’s history. The shutdown caused a real impact on the U.S. economy—the Congressional Budget Office projected that the shutdown would lower real Gross Domestic Product (GDP) growth in the current quarter by 1.5 percentage points,…