What the US Commercial Property Price Index is really telling us
Check out this chart… real (CPI-adjusted) commercial property prices in the US from 1985 to now.
Clear cycles jump out:
Late 80s to mid-90s → -35% over 9 years
Then a strong run → +107% over 11 years peaking around 2007-08
Global Financial Crisis → -41% in just 2.3 years
Long recovery → +79% over 12 years until ~2022
And now in correction mode → -30% over the past 4.5 years
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@RezaMacroEdge
August 25, 2026 15
