Video: Robert Knakal speaks about housing prices, package of bills


Robert Knakal, chairman of Massey Knakal Realty Services, talked to GlobeSt.TV about building sales and an affordable housing bill package.

Knakal spoke about the price differential between building types.

Multi-family sector cap rates are only up 50 to 75 basis points from the low point at the height of the market, Knakal said. In the the retail and office sectors, cap rates are up 150 to 200 basis points, he said, “mainly because of uncertainty about the credit worthiness of tenants, consumer spending trends and a general malaise that the economy has been in for a while.”

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Knakal also talked about his dislike of the package of affordable housing bills that is before the state Senate.

He believes that if the bills are passed, there will be a deterioration of the housing stock and the real estate tax base.