The rallying cry of the early 1990s, “Stay Alive ’Til ’95,” has been replaced. Today, the mantra of this bumbling recovery seems to be, “Will It Be Heaven in 2011?”
The question sums up the range of views that official—and for that matter, unofficial—forecasters express when asked what’s in store for next year. Some are downright upbeat, while others are more reserved, but the consensus is that 2010 turned out better than expected and 2011, if current trends continue, could turn out to be the best year since the capital markets stalled and the economy turned south.
Next year is also expected to continue some of the seeming paradoxes of 2010, such as the continued rise in prices for top-quality office buildings, despite the office market remaining the industry’s leasing laggard. Forecasters also expect a pickup in retail leasing, continued stability and improvement in the multifamily and industrial sectors and better times for hotels as RevPAR recovers. The consensus appears to be that distress will continue to unwind slowly and will not burst flood-like onto the scene as was once anticipated...
To read more, please see the December issue of Real Estate Forum online.
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