The Commercial Real Estate Voice of New Jersey

“A lot of this is going to be driven by how quickly interest rates reset,” said Jeff Otteau, chief economist with Otteau Group and managing broker of Hudson Atlantic Realty Advisors, based in Matawan. Historically, he said, it has taken 12.5 months for rates to reach such a point. “Will this time be different? Maybe,” he added. “And if it takes longer than that, if we’re looking at elevated lending rates for 24 or 36 months, that’s going to have an effect on the markets. That’s going to be a significant disruptor.”

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