Higher-for-Longer Rates End the Cheap-Money Playbook for Puget Sound Real Estate, Economist Ken Rosen Says

The end of a 17-year stretch of near-zero real interest rates will push Puget Sound and Portland investors back to leasing, operations and disciplined underwriting, veteran economist Ken Rosen said on CBRE's podcast The Weekly Take, warning that cap rates still have to climb and that patient private capital is displacing institutions.