The region, though, won't escape unscathed: it's going to geteven slower than it is now. In taking the region's temperature forCRE fundamentals, Gregory Leisch, president and CEO of DeltaAssociates, the research arm of Transwestern Commercial Services,said Dallas/Fort Worth is destined to stay "reasonably healthy ifwe continue to grow jobs." His crystal ball shows North Texas willadd 30,000 jobs per year for the next three years, falling 26,500jobs short of its average annual gain.

"It's a sufficient rate for a sturdy real estate market if wedon't overproduce product," Leisch told brokers, investors andbankers at last night's TrendLines, the firm's sixth annualforecast event for Dallas/Fort Worth held at Northwood Club inNorth Dallas. He pointed out that the region added 59,800 jobsbetween January and July, starting into the hard times as the USleader for new jobs.

Transwestern's leaders reassured the crowd that the economicclimate is primed with opportunity. And their marching orders areto perceive the glass as half full and not half empty, accept thereality and be proactive. Larry Heard, Transwestern's president andCEO, said the brokerage firm did just that earlier this year whenit cleared all its corporate debt "to put ourselves into a positionto take advantage of what's ahead."