Victor Calanog

Vice President of Research & Head of Economics

Victor Calanog is vice president of research and economics at Reis. He and his team of economists and analysts are responsible for the firm’s market forecasting, valuation, and real estate portfolio analytics services. His research has received awards and fellowship support from several institutions, including the Ford Foundation, the Russell Sage Foundation and the Penn Lauder Center for International Business Research.

Will Cap Rates Rise or Fall in 2011 and 2012? The Answer May Surprise You
After rising 300 to 500 basis points in 2009, average transaction-based cap rates fell in 2010 through early 2011.
Solving the Cap Rate Puzzle
After rising 300 to 500 basis points in 2009, average transaction-based cap rates fell in 2010 through early 2011. Why have cap rates fallen so quickly
Is the Gap Between Residential and Commercial Values Structural or Cyclical?
Commercial and residential values have generally moved in lockstep over the last three decades.
Will Commercial Real Estate Provide a Good Hedge Against Inflation?
It seems to be only a matter of time before higher inflation makes its way into official U.S. figures.
Will Electronic Commerce Kill Brick-and-Mortar Retail?
With a larger share of retail sales migrating to online channels, what fate awaits traditional physical retail centers?
Heaven for Multifamily in 2011, Closer to Earth in 2012
It is a bullish sentiment that gathered steam through 2010. With few projects initiated in 2009, there will be a shortage in the supply of rental apartments this year.
The Curious Case of Vanishing Retail Properties
More than 7 million sq. ft. of retail projects slated for completion in 2010 were delayed or cancelled.
Why Suburban Office Markets Will Continue to Flounder
In my August column, I hinted that office fundamentals may bottom by the end of the year.
If You Blink, You Might Miss the Retail Turnaround
The performance of the retail sector in the third quarter was surprisingly stable.
Be Optimistic About Office Fundamentals — Next Year
In my March column, I indicated that office rents will bottom sooner than expected. Second-quarter results justify this prediction, but it is too soon to pronounce that office fundamentals have bottomed.
Why Retail Valuations Will Not Return to Peak Levels Until After 2016
When will the retail sector recover? The answer depends on how recovery is defined. Property owners consider a drop in vacancies and a reversal from negative to positive rent growth as the first signs of a recovery.
Will The Shadow Market Depress Apartment Rent Growth?
There is still a large supply of housing listed for sale, foreclosure rates remain high, and failed condominium developments still compete with market rate rentals in many places around the country.
Markets With Pervasive Distress Offer Treasure Trove of Deals
There are several metrics that investors can use to identify deals on distressed assets. However, investors typically take a silo approach, focusing on specific property types.
Multifamily Market’s Nascent Recovery Will Drive Up Pricing, Transactions
In a surprising show of resiliency for the U.S. apartment sector, the national vacancy rate stayed flat at 8.0% in the first quarter, bucking the seasonal weakness in demand that apartment rentals have typically shown during the colder months of the year.
Office Rents Will Bottom Sooner Than Expected
Despite the havoc that the past year wreaked on office rents and occupancies, the combination of limited supply growth and expected stabilization in the labor markets foreshadows a relatively quick return to positive rent growth.
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