This week’s podcast guest is Byron Carlock, the U.S. real estate leader with PwC and the primary author of the ULI/PWC annual survey, “Emerging Trends in Real Estate”. The podcast centers on the current market downturn in the real estate transaction market within the context of the longer term, very positive, fundamentals and trends for the real estate business. 

Byron predicts a 1-2 year timeline for market stabilization and talks about the next cycle where the longer term trends are generally quite positive for real estate. He discusses the deep, ongoing need for housing affordability, the retooling of the industry about decarbonization, continued challenges in the office market given long-term changes in remote work, and the resilience of great cities as well as opportunities outside of the big core urban environments. 

Byron and Matt also talk about the negative image of “landlords” and “real estate developers”. Byron sees work to do on public perception of our business and reframes the industry’s work in the built environment as a “community betterment business”. 

Resources

• Byron Carlock | PWC
• LinkedIn | Byron Carlock
• PWC | Emerging Trends in Real Estate Magazine
• Up For Growth
• Beauty
• Trammell Crow: A Legacy in Real Estate Business Innovation
• Trammell Crow, Master Builder: The Story of America's Largest Real Estate Empire
• Christopher Alexander - Pattern Language