What person, project, transaction, or market trend had the greatest impact on your industry this year?

Interest rate spikes while historically still not high have created issues as owners and developers have counted on super cheap money. That coupled with new underwriting requirements for institution financing have led to stress for many asset classes.

What emerging trends will drive investment and development in 2024?

The ramp up to the presidential election and the associated electioneering in regard to fiscal policy is the grand unknown. The economy is stressed and only cool hands will get us through the next year or two.