Tuesday, February 26, 2008

Would you bet against this man?

I won't. Sam Zell predicts a spring recovery in the housing market.
Is he right? Only time will tell, but again, I don't bet against Zell.

How does this bode for commercial property? I think it'll likely be good for retail because rooftops mean a lot. The apartment sector? Not so much. And to be honest, I am not sure whether that will impact office or industrial, so just watch and see like I will, or give me your own predictions.

UPDATE: if you want a great analysis of the residential perspective, read Jeff Brown's take.


Lisa Michelle Galley: said...

I hope Sam's right! I'm still concerned about whether there is more softness in the employment market than we can see today, but am still generally positive.

David Stejkowski said...

Lisa, I will be interested in that too. Unemployment is still around 4.9%,which IIRC is just about full employment. Now, that does not take into account people ho have stopped looking for work and job quality. But I too am remaining optimistic about 2008.