We recorded early this week ahead of the Thanksgiving holiday, but even in a short week, the big picture is clear: the economy is cooling, not crashing. In this week’s episode of The TreppWire Podcast, we provide a quick macroeconomic update on where things stand as we head into the holiday and discuss how it all ties back to commercial real estate (CRE). We kick off with a special segment on what we’re thankful for in the industry, highlighting bright spots that stand out despite the challenges of 2025 as we move closer to year-end. We discuss the stabilization of interest rates, which has allowed for continued transaction activity despite rising costs and softening job markets. Finally, we do a 101 segment on Ground Leases, explaining what ground leases are, why they exist, the risks involved, and walking through a real-world case study to bring it all together. Tune in now.

Episode notes:

• Economic Update & Outlook for 2026 (1:43)
• Things We’re Thankful for in CRE (12:37)
• CMBS Issuance Update (20:31)
• Multifamily Absorption & Stabilizing Interest Rates (21:05)
• Ground Lease 101 (29:10)
• Case Study (32:29)
• Programming Notes (38:12)
• Shoutouts (40:24)

Questions or comments? Contact us at podcast@trepp.com.

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