Little has occurred in the first part of 2012 to alter the view that the recovery of the real estate industry will be a long, hard slog. “My belief is we’re still in the third inning of a nine-inning game,” said Howard Roth, head of Ernst & Young’s commercial real estate advisory practice. The consensus view of most economists is that growth will finally start picking up speed in 2014.
Many economists expect a return to robust economic growth by 2014. The Urban Land Institute’s most recent survey of real estate economists projects a 50 percent increase in transaction volume by 2014 as CMBS volume doubles over the same period. Vacancy rates will drop between 1.2 and 3.7 percent for office, retail and industrial and remain low for multi-family properties.
Read more...The Road Ahead: Economic Outlook via CPExecutive.com
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.