Jan Svec, a director in Fitch Rating's REIT group, tellsGlobeSt.com that it is uncertain at this point how financial jobloss will affect the office market here, but she says that the goodnews is that things are "going to be better than last time,"although as financial firms continue to make cuts, "things couldchange."
[IMGCAP(3)]Hugh Finnegan, an attorney in the real estate groupat Sullivan & Worcester LLP, agrees with Svec that the officemarket might not be as dramatically affected as one might expect."There is a huge difference between this cycle on the last heavydown cycle of the late '80s and early '90s," he says. "Although newtowers are being built now, there are few buildings with availablespace."
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