'Recruiting will remain on hold until the credit markets regroup.'
By Anthony J. LoPinto|October 09, 2007 at 09:57 AM
Thank you for sharing!
Your article was successfully shared with the contacts you provided.
Last week, the US Labor Department reported that the economy added 110,000 jobs in September and roughly 90,000 in both July and August. This stands in sharp contrast to fears that the sub-prime debacle was going to spread across the economy and precipitate a recession. While the new data suggests that economic growth has, indeed, slowed this year, it seems that the storm has passed for now, the economy is holding its own and recessionary fears have subsided. However, on the real estate front, the finance side of the business is still reeling from sub-prime aftershocks, and recruiting activity that virtually stopped in August will remain on hold until the credit markets regroup. My expectation is that confidence will rebuild in the financial sector servicing real estate during the first quarter, and the hiring trend for financial types will rebound, somewhat. The better news is that real estate, overall, while experiencing a modest correction, (a positive, considering how over-heated the markets had become), will continue to enjoy job growth.
Tony LoPinto is CEO of Equinox Partners, an executive search firm specializing in the real estate industry, and parent company of SelectLeaders. The views expressed in this article are the author’s own.
HOLLIDAY FENOGLIO FOWLER LPSenior Real Estate Analyst(BOSTON) Responsibilities include the preparation of financial analysis models for potential debt and equity transactions, creation of offering memorandums and significant interaction with clients and capital providers to place deals.
Want to continue reading? Become a Free ALM Digital Reader.
Once you are an ALM digital member, you’ll receive:
Unlimited access to GlobeSt and other free ALM publications
Access to 15 years of GlobeSt archives
Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
3 free articles* across the ALM subscription network every 30 days
Exclusive discounts on ALM events and publications
*May exclude premium content
Already have an account? Sign In Now
CRE professionals are relying more on data and analytics to drive decision making. Discover how alternative data sets provide a competitive edge on everything from choosing the best location for your next development opportunity to optimizing existing real estate footprints.
Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!
Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
Exclusive discounts on ALM and GlobeSt events.
Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.