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NAIOP Chair Kim Snyder Shares His Outlooks, Experiences

NAIOP’s chair shares his thoughts on our industry, his goals this year as chair, why advocacy matters, and the value provided by NAIOP.



In the Spring issue of Development magazine, I shared some of my thoughts on our industry, my goals as chair, and what I see as NAIOP’s greatest member value. I had so much to share that I quickly ran out of room! So, I’m sharing an extended cut of our conversation with our Market Share blog readers. If you already haven’t, I’d invite you to read my recent column in the Spring issue of the magazine.

What are your goals as NAIOP Chair?

Our association is growing – surpassing new records at the end of 2022 – yet the membership structure is complex and can be challenging to explain to a new member. We need to simplify and streamline, making the structure easier to understand and removing any potential barriers for members. I’m pleased to share that a task force has been appointed to examine the structure.

The industry remains behind the curve of diversity, equity, inclusion and belonging (DEI&B). As we develop the next strategic plan, I believe we need to establish meaningful and actionable tenets, supported by the executive committee and propelled by our board. This commitment needs to be supported with a budget for further recruitment, development and education for all members on the merits of a diverse workforce so that our association can demonstrate its commitment to all underrepresented individuals in commercial real estate.

For decades, NAIOP Corporate – uniting 52 chapters across the U.S. and Canada – has successfully represented the members on federal policy issues; however, we need to work with our chapters to align our priorities on common issues and problems facing regions, states and provinces. This year, we’ll survey members to identify key issues to create a more focused approach to advocacy on all levels.

Why is diversity so important to business?

Our industry has been slow on its path to diversity and inclusion, but I have great optimism about what we can achieve with focus and commitment. It needs to be second nature to think, behave, hire and develop the broadest spectrum of talent for the future of commercial real estate. That’s how we keep our association and our industry successful in the modern era.

Almost 17 years ago, NAIOP introduced its Developing Leaders program for younger professionals. Today they comprise more than a quarter of all members. They already represent the association well, and they will help keep NAIOP strong and essential as the industry evolves through economic cycles and generational change. 

Why should our members be engaged legislatively?

Relationships matter. If elected officials and regulators don’t know who our members are, what they do and how we contribute to communities and the overall economic health of the U.S., they may feel freer to enact laws and regulations that make it harder for us to operate. It is important to stay engaged and aware of the legislative and regulatory environment – both locally and nationally. That will help us make better decisions and, more importantly, convey our pride for this great industry and all that it does.

Members are part of both a local chapter and the overarching organization. Why is this valuable and how can the two affiliations complement one another?

Real estate is a local business. Chapters can best adapt their programming to meet the needs of local members. The overarching organization can provide national and regional level insights, broad educational opportunities, networking across local chapters and advocacy and issue spotting on legislative matters affecting the broader membership. It’s a symbiotic relationship of collaborating, educating, and advocating if properly executed. That should be our goal.

What do you see for 2023 as we emerge from three years of pandemic living?

We will face challenges in 2023 as we grapple with escalating interest rates, stubborn inflation and dimming confidence in the overall economy. But there are also reasons to be optimistic. Savvy commercial real estate developers learn to predict and assess these external factors and overcome obstacles in the path of our success. A downturn can present opportunities for capital investment, creative problem-solving and recruiting new talent.

What can NAIOP do to prepare its members for a period of uncertainty/economic stresses?

NAIOP has always helped its members navigate choppy waters with continuing education, new areas of learning, and a collaborative membership that is willing to help others by sharing our experiences. NAIOP can help its members find new opportunities, partners and ways to make real estate projects more financeable and successful. The reports by the Research Foundation are a key example of this type of benefit. The association has a lot to offer during uncertain times and we should all take advantage of its offerings.

What do you find engaging about the CRE industry?

Whether in office, retail, hospitality or logistics, developers need tenants. I love getting to know customers – their business and their needs – and then help solve their problems so they can flourish. This makes me excited to go to work every day. The pivotal role our industry plays in making local communities and economies stronger also is incredibly satisfying. Our real estate investments and career opportunities are much bigger than one development project – we’re helping create a strong economy and better communities for people to work and live.

How has the Southern California/Western Region market grown and changed?

I have lived in SoCal for nearly 35 years in Arizona for a decade before that, and I have worked all over Europe, Mexico, Canada and Brazil during the last few decades. But SoCal is my home and where I am most rooted with family, friends and colleagues. In the time I have lived and worked here, Southern California has really changed in terms of population growth and economic significance. Our economy has substantially diversified. It continues to be a vibrant place for entrepreneurs and offers a diverse culture that is open to newcomers.

What’s next for industrial development?

Industrial was the darling product type for the last 5-6 years and still has gas in its tank, in my view. As consumers have moved to a more omnichannel buying behavior, logistics real estate will continue to bloom for years to come as the percentage of online retail sales grows. That shift in consumer spending behavior is creating a growing need for industrial space closer to areas of major population. As a result, we’re seeing the need for more community engagement in the development of industrial, which presents an opportunity to help local leaders and members of the community better understand the value industrial developments bring to their community.

Sustainable logistics is an area that I expect to explode. As companies develop industrial projects, making sure they are being designed, constructed and operated in a sustainable manner will be key to winning and maintaining community support. Fully featured 40-foot clear, LEED certified warehouses are as popular today as they have ever been, making them a solid investment opportunity. That said, the smart investor is investing in properties that are built with an eye toward the future (solar, LED, EV, etc.). 

Fleet electrification, while in its infancy, is having a huge impact on the industry. As landlords and tenants strive to achieve net zero goals, the emergence of electric vehicles of all kinds will be a part of that solution.

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China Auto Sales Jump 55% Year Over Year As Price Cuts Continue To Move NEV Metal

China Auto Sales Jump 55% Year Over Year As Price Cuts Continue To Move NEV Metal

Retail sales of passenger vehicles scorched higher in May,…



China Auto Sales Jump 55% Year Over Year As Price Cuts Continue To Move NEV Metal

Retail sales of passenger vehicles scorched higher in May, with 1.76 million units sold, according to preliminary data from the China Passenger Car Association released this week. 

The sales figure represents 8% growth from the month prior. As has been the case over the last several years, new energy vehicles continue to grow disproportionately to the rest of the sector, driving sales higher.

Last month 557,000 NEVs were sold, growth of 55% year over year and 6% sequentially, according to a Bloomberg wrap up of the data. 

The sales boost comes as the country slashed prices to move metal throughout the first 5 months of the year. In late May we noted that China's auto industry association was urging automakers to "cool" the hype behind price cuts that were sweeping across the country. 

The price cuts were getting so egregious that the China Association of Automobile Manufacturers went so far as to put out a message on its official WeChat account, stating that "a price war is not a long-term solution". Instead "automakers should work harder on technology and branding," it said at the time.

Recall we wrote in May that most major automakers were slashing prices in China. The move is coming after lifting pandemic controls failed to spur significant demand in China, the Wall Street Journal reported last month. Ford and GM will be joined by BMW and Volkswagen in offering the discounts and promotions on EVs, the report says. 

At the time, Ford was offering $6,000 off its Mustang Mach-E, putting the standard version of its EV at just $31,000. In April, prior to the discounts, only 84 of the vehicles were sold, compared to 1,500 sales in December. There was some pulling forward of demand due to the phasing out of subsidies heading into the new year, and Ford had also cut prices by about 9% in December. 

A spokesperson for Ford called it a "stock clearance" at the time. 

Discounts at Volkswagen ranged from around $2,200 to $7,300 a car. Its electric ID series is seeing price cuts of almost $6,000. The company called the cuts "temporary promotions due to general reluctance among car buyers, the new emissions rule and discounts offered by competitors."

China followed suit, and thus, now we have the sales numbers to prove it...

Tyler Durden Wed, 06/07/2023 - 20:00

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World Bank: Global Economic Growth Expected To Slow To 2008 Levels

World Bank: Global Economic Growth Expected To Slow To 2008 Levels

Authored by Michael Maharrey via,

Most people in the mainstream…



World Bank: Global Economic Growth Expected To Slow To 2008 Levels

Authored by Michael Maharrey via,

Most people in the mainstream concede that the economy is heading for a recession, but the consensus seems to be that downturn will be short and shallow. Projections by the World Bank undercut that optimism.

According to the World Bank, global growth in 2023 will slow to the lowest level since the 2008 financial crisis.

In other words, the World Bank is predicting the beginning of Great Recession 2.0.

You might recall that the Great Recession was neither short nor shallow.

In fact, World Bank Group chief economist and senior vice president Indermit Gill said, “The world economy is in a precarious position.”

According to the World Bank’s new Global Economic Prospects report, global growth is projected to decelerate to 2.1% this year, falling from 3.1% in 2022. The bank forecasts a significant slowdown during the last half of this year.

That would match the global growth rate during the 2008 financial crisis.

According to the World Bank, higher interest rates, inflation, and more restrictive credit conditions will drive the economic downturn.

The report forecasts that growth in advanced economies will slow from 2.6% in 2022 to 0.7% this year and remain weak in 2024.

Emerging market economies will feel significant pain from the economic slowdown. Yahoo Finance reported, “Higher interest rates are a problem for emerging markets, which already were reeling from the overlapping shocks of the pandemic and the Russian invasion of Ukraine. They make it harder for those economies to service debt loans denominated in US dollars.”

The World Bank report paints a bleak picture.

The world economy remains hobbled. Besieged by high inflation, tight global financial markets, and record debt levels, many countries are simply growing poorer.”

Absent from the World Bank analysis is any mention of how more than a decade of artificially low interest rates and trillions of dollars in quantitative easing by central banks created the wave of inflation that continues to sweep the globe, along with massive levels of debt and all kinds of economic bubbles.

If you listen to the mainstream narrative, you would think inflation just came out of nowhere, and central banks are innocent victims nobly struggling to save the day by raising interest rates. Pundits fret about rising rates but never mention that rates were only so low for so long because of the actions of central banks. And they seem oblivious to the consequences of those policies.

But being oblivious doesn’t shield you from the impact of those consequences.

In reality, central banks and governments implemented policies intended to incentivize the accumulation of debt. They created trillions of dollars out of thin air and showered the world with stimulus, unleashing the inflation monster. And now they’re trying to battle the dragon they set loose by raising interest rates. This will inevitably pop the bubble they intentionally blew up. That’s why the World Bank is forecasting Great Recession-era growth. All of this was entirely predictable.

After all, artificially low interest rates are the mother’s milk of a global economy built on easy money and debt. When you take away the milk, the baby gets hungry. That’s what’s happening today. With interest rates rising, the bubbles are starting to pop.

And it’s probably going to be much worse than most people realize. There are more malinvestments, more debt, and more bubbles in the global economy today than there were in 2008. There is every reason to believe the bust will be much worse today than it was then.

In other words, you can strike “short” and “shallow” from your recession vocabulary.

Even the World Bank is hinting at this.

Tyler Durden Wed, 06/07/2023 - 15:20

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DNAmFitAge: Biological age indicator incorporating physical fitness

“We expect DNAmFitAge will be a useful biomarker for quantifying fitness benefits at an epigenetic level and can be used to evaluate exercise-based interventions.”…



“We expect DNAmFitAge will be a useful biomarker for quantifying fitness benefits at an epigenetic level and can be used to evaluate exercise-based interventions.”

Credit: 2023 McGreevy et al.

“We expect DNAmFitAge will be a useful biomarker for quantifying fitness benefits at an epigenetic level and can be used to evaluate exercise-based interventions.”

BUFFALO, NY- June 7, 2023 – A new research paper was published in Aging (listed by MEDLINE/PubMed as “Aging (Albany NY)” and “Aging-US” by Web of Science) Volume 15, Issue 10, entitled, “DNAmFitAge: biological age indicator incorporating physical fitness.”

Physical fitness is a well-known correlate of health and the aging process and DNA methylation (DNAm) data can capture aging via epigenetic clocks. However, current epigenetic clocks did not yet use measures of mobility, strength, lung, or endurance fitness in their construction. 

In this new study, researchers Kristen M. McGreevy, Zsolt Radak, Ferenc Torma, Matyas Jokai, Ake T. Lu, Daniel W. Belsky, Alexandra Binder, Riccardo E. Marioni, Luigi Ferrucci, Ewelina Pośpiech, Wojciech Branicki, Andrzej Ossowski, Aneta Sitek, Magdalena Spólnicka, Laura M. Raffield, Alex P. Reiner, Simon Cox, Michael Kobor, David L. Corcoran, and Steve Horvath from the University of California Los Angeles, University of Physical Education, Altos Labs, Columbia University Mailman School of Public Health, University of Hawaii, University of Edinburgh, National Institute on Aging, Jagiellonian University, Pomeranian Medical University in Szczecin, University of Łódź, Central Forensic Laboratory of the Police in Warsaw, Poland, University of North Carolina at Chapel Hill, University of Washington, and University of British Columbia develop blood-based DNAm biomarkers for fitness parameters including gait speed (walking speed), maximum handgrip strength, forced expiratory volume in one second (FEV1), and maximal oxygen uptake (VO2max) which have modest correlation with fitness parameters in five large-scale validation datasets (average r between 0.16–0.48). 

“These parameters were chosen because handgrip strength and VO2max provide insight into the two main categories of fitness: strength and endurance [23], and gait speed and FEV1 provide insight into fitness-related organ function: mobility and lung function [8, 24].”

The researchers then used these DNAm fitness parameter biomarkers with DNAmGrimAge, a DNAm mortality risk estimate, to construct DNAmFitAge, a new biological age indicator that incorporates physical fitness. DNAmFitAge was associated with low-intermediate physical activity levels across validation datasets (p = 6.4E-13), and younger/fitter DNAmFitAge corresponds to stronger DNAm fitness parameters in both males and females. 

DNAmFitAge was lower (p = 0.046) and DNAmVO2max is higher (p = 0.023) in male body builders compared to controls. Physically fit people had a younger DNAmFitAge and experienced better age-related outcomes: lower mortality risk (p = 7.2E-51), coronary heart disease risk (p = 2.6E-8), and increased disease-free status (p = 1.1E-7). These new DNAm biomarkers provide researchers a new method to incorporate physical fitness into epigenetic clocks.

“Our newly constructed DNAm biomarkers and DNAmFitAge provide researchers and physicians a new method to incorporate physical fitness into epigenetic clocks and emphasizes the effect lifestyle has on the aging methylome.”

Read the full study: DOI: 

Corresponding Authors: Kristen M. McGreevy, Zsolt Radak, Steve Horvath

Corresponding Emails:,, 

Keywords: epigenetics, aging, physical fitness, biological age, DNA methylation

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About Aging-US:

Launched in 2009, Aging publishes papers of general interest and biological significance in all fields of aging research and age-related diseases, including cancer—and now, with a special focus on COVID-19 vulnerability as an age-dependent syndrome. Topics in Aging go beyond traditional gerontology, including, but not limited to, cellular and molecular biology, human age-related diseases, pathology in model organisms, signal transduction pathways (e.g., p53, sirtuins, and PI-3K/AKT/mTOR, among others), and approaches to modulating these signaling pathways.

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