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Jim Costello

Jim Costello

Executive Director, MSCI Research

Jim is chief economist on the MSCI Real Assets team and is based in New York. He is the principal author of the US Capital Trends report series and a frequent speaker at commercial real estate conferences. At Real Capital Analytics, which MSCI acquired in 2021, Jim was a leader for analysis across the commercial property universe. Jim also spent two decades at Torto Wheaton Research working on issues of real estate risk and forecasting. He is a member of the Commercial Board of Governors of the Mortgage Bankers Association and a member of The Counselors of Real Estate.

Research and Insights

Articles by Jim Costello

    US Property Deals Slumped, Price Growth Withered in Q4

    2 mins read Quick Take | Jan 19, 2023 | Jim Costello

    Prices in December fell from a month earlier and posted a small increase compared to a year ago. The volume of U.S. property deals dropped 62%.

    Challenges for Non-Traded Private REITs Are not Unique

    5 mins read Blog | Dec 15, 2022 | Jim Costello

    Increased talk of redemption queues has led to some seeing a dimmer future for groups with net-asset-value REITs — but their challenges are not unique. The impact of credit-market stress has hit all private vehicles for commercial real estate. 

    A Correction in US Commercial Real Estate

    6 mins read Blog | Nov 2, 2022 | Jim Costello

    Potential buyers and current owners of U.S. office assets have moved apart on price expectations, causing deal activity to drop. We discuss two approaches to gauging the outlook for pricing.

    Commercial Property in Hurricane Ian’s Path

    2 mins read Quick Take | Sep 27, 2022 | Jim Costello , Bryan Reid , Haley Crimmins , Gillian Mollod

    Commercial real estate with an estimated value of USD 1.5 trillion stands in the projected path of Hurricane Ian, which is forecast to make landfall in Florida this week.  

    Real Estate Likely to Transition to Be a Source of Inflation

    2 mins read Quick Take | Sep 15, 2022 | Jim Costello

    Housing prices account for roughly one-third of the U.S. consumer price index, but have not yet contributed in a big way to recent inflation, despite a surge in apartment rents. The issue is the difference between spot-market rents and the rental measure used in the CPI.

    What Can We Learn from the July CPI?

    2 mins read Quick Take | Aug 10, 2022 | Jim Costello

    The U.S. consumer price index rose 8.5% from a year earlier in July 2022, down from the 9.1% pace in June. But this headline figure masks moves of individual drivers of price growth that went in the other direction. 

    The Signal for Industrial Property Amid E-Commerce Noise

    4 mins read Blog | Jun 7, 2022 | Jim Costello

    Demand and pricing for industrial commercial property got a boost from spiking e-commerce demand during the early part of the pandemic. We look at the longer-term trends in e-commerce sales for guidance.

    US Commercial Real Estate Sales Motor on in First Quarter

    1 mins read Quick Take | Apr 22, 2022 | Jim Costello

    Sales climbed at double-digit rates from a year ago in…

    Top Global Investors: Piling Into Apartment, Industrial in 2021

    2 mins read Quick Take | Apr 6, 2022 | Jim Costello

    There was record momentum behind capital deployed by…