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Heading into 2012, the US seems less caught up in global economic uncertainty than decoupling from it, at least temporarily. “The US will outpace Europe in the coming year, and by more than most people expect,” says Richard Mack, North America CEO of AREA Property Partners in New York City, although he adds that is this is “due more to European weakness than US strength.” Asieh Mansour, CBRE's San Francisco-based head of Americas research, puts it a little differently: “The US fundamentally will avoid a recession. Many of the fundamentals of the US economy are much better, in comparison to Europe.”

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