Monday, June 1, 2009

Recovery in CRE - two and a half years away?

That is the prediction you will find here. The lag of the commercial sector behind housing will be a factor, and certainly vacancies will also have to be absorbed on top of any new construction. Chicago has plenty of that right now. I guess once you see a flattening of new unemployment claims that will help. The step I always think is critical is an increase of temp hiring. I think companies hedge in initial hiring needs and a pickup there might be an initial sign of movement. Now if we can only see that! My hope of course is that we rebound faster, but I do know people that are planning projects with 2011 openings in mind.