• Across all regions, the volume of capital flowing into real estate fell back in Q1 2016. Investors interpreted the market volatility as indicating either an imminent financial crisis in China, or the end of the U.S. economic cycle—or both—and decided to be cautious. 
  • Although the current cycle is entering its mature phase in the U.S., our analysis suggests there are some years to run, so real estate investors and developers can continue to deploy capital, at the same time as beginning to plan and prepare for the next downturn.