According to Dale Anne Reiss, global real estate director atE&Y, the situation isn't likely to ease in 2008. She explainsthat with the lack of available financing and the specter ofrecession in the US, E&Y expects real estate market conditionsboth here and abroad to be difficult through this year.
Joyce DeLucca, founder and managing principal of KingslandCapital, has similar views as E&Y's outlook. DeLucca believesthe market hasn't hit bottom yet and notes that for the near tointermediate term, the outlook of the global credit market is quitenegative. "It is not 100% bleak," She says. "There will becompelling opportunities in the credit markets as the market findsa bottom."
The E&Y outlook predicts expansion of global capital. "Withmany US investors still on the sidelines following the creditmarket dislocation in Aug. 2007, foreign buyers are likely to stepinto the vacuum for commercial assets and will continue to do soespecially in gateway US markets such as New York City, Washington,DC, Miami, Chicago, San Francisco, Los Angeles, and other coastalmarkets," the outlook says.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
