Market conditions and escalation - Ontario

Altus Insights Podcast Series

Date: February 17, 2023

Name of podcast: Altus Insights Podcast Series

Episode title and number: Episode 17 –Market conditions and escalation - Ontario

Episode summary: Raymond Wong and Marlon Bray reunite for the first time in 2023 to discuss the state of the Ontario CRE market and debate what market conditions and construction will look like in the near-term, mid-term and long term.

Panelists in this episode:
· Marlon Bray is the head of Altus Group's Ontario pre-construction and contract administration services as part of the Cost and Project Management team. With over 25 years of experience, specializing in budgeting, value optimization, and providing visibility on risk through the entire lifecycle from early due diligence through to completion. Marlon oversees a team that leads the way with cutting-edge estimating technology and data analytics, bringing a greater level of transparency, and added value to all projects he is involved with.
· Raymond Wong is the Vice President of Data Operations for Altus Group’s Data Solutions team. Overseeing 60+ researchers across Canada, Ray’s primary responsibility is to ensure data collection is all encompassing, reliable and accurate and that it adheres to the Altus Group data governance guidelines. Ray works closely with both internal and external clients to ensure the information meets their needs and that it is both accurate and timely. He also regularly presents on key market trends to clients and at industry events.

Key topics:

· 01:22 – Recap of 2022 – A carryover of themes in 2022

· 04:08 – 2023 opportunities in CRE? That depends.

· 05:33 – Does the midterm look better for construction in Ontario?

· 08:46 – Digging into investment activity and interest rates

· 13:17 – Factoring in Net Zero

· 14:47 – Betting on ramping up home building and immigration

· 16:16 – Finding the turning point in the market

· 18:53 – Going back to office - Considering the commute and more

· 22:00 – Great scrutiny on assets moving forward?

· 25:40 – The solution to the housing problem (Kidding!... not kidding)

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