Terrible headlines from overseas are weighing down our recovery … again. If we aren’t worried about Greece leaving the Euro (February), we’re worrying about international oil and gas prices (April) or Spanish sovereign default (late April). Now Greece is in the headlines again—and that’s bad news for commercial real estate.
“It certainly increases the risk that we are going to have another fairly unspectacular year,” says Ryan Severino, senior economist for New York-based real estate research firm Reis LLC.
“Fairly unspectacular” seems to be the theme behind the numbers in the first quarter reports from Reis. Our modest recovery will continue to be modest until severe uncertainty ends and strong job growth returns, says Severino
Read more...Modest Recovery Continues, According to Reis via NREIonline.com
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