2 min read
The Most Insightful Hour in CRE is back, and this time, Willy will be joined by his good friend and acclaimed economist, Dr. Peter Linneman, at the New York Stock Exchange for an extra-special Walker Webcast. You can catch the episode on Wednesday, October 11.
We sat down with Peter ahead of the webcast to chat about The Linneman Letter and what he’ll be highlighting at the NYSE event.
Peter has been publishing The Linneman Letter every quarter for the past 22 years. He describes it as the “conversation in his head” about current events in commercial real estate, finance, the economy, and capital markets.
Individuals from high-wealth REITs, private equity firms, developers, and owners trust the insights shared in The Linneman Letter and appreciate the raw, no-frills explanations. Rather than parrot conversations from other investment and real estate firms, Peter takes a “here’s what I think and why” approach to his quarterly publication, giving readers multiple main courses, sides, and desserts so everyone can find something appetizing.
In the spirit of surprise and delight, Peter stopped short of showing his full hand on the upcoming NYSE event. However, he did reveal that viewers should expect high-caliber questions with answers they’ll want to know.
“Willy asks great questions, and he asks them very clearly. It makes a difference when you have someone who is prepared and asks great questions, and that makes it easy for me. You're going to hear the best question-asker, the most poignant, pointed, and prepared question-asker that I've dealt with.”
“I'm 72. I've been doing this a long time and been on a lot of stages with a lot of people. That is important because what that brings to the table raises my game a lot. Willy and I don't prepare canned conversations, and we don't rehearse.”
One talking point of interest will be a discussion about why the Fed is making a serious mistake by keeping interest rates where they are. Even though inflation has largely passed, we are way past peak inflation, in Peter’s viewpoint.
“We are doing quite well in terms of inflation. And the Fed is fighting the war of yesterday, as is often the case. So you're going to hear a discussion on that.”
Peter also teases a discussion on how the economy is doing much better than the Fed thought it would be doing. According to Peter, it's because the lion’s share of the economy is not sensitive to interest rates.
“I used the example the other day of there's no woman who is holding their child in their womb an extra six months beyond the due date because the Fed has raised interest rates. The healthcare sector is largely immune to interest rates.”
Peter also expects rent and occupancy rates to enter the conversation, as well as the capital market side of what’s happening in commercial real estate.