Key Points: Countywide rent growth increased modestly after the fires, but the effects were far more pronounced at the neighborhood level. In both the Palisades and Eaton Canyon areas, rents eventually stabilized in the burn zones themselves, while accelerating in surrounding zip codes as displaced households reassessed longer-term housing plans. ...

Key Points: Cap rates are unlikely to fall materially in the new cycle. Income, not valuation, will drive a greater share of CRE returns. Debt supply, not interest rates, is the stronger historical driver of cap-rate movement. Most CRE professionals lack lived experience operating in periods of flat or rising cap rates, which may make this ...