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An Office UPGRADE

Mortgage Banking, 2011-04, Vol.71 (7), p.66

Copyright Mortgage Bankers Association of America Apr 2011 ;ISSN: 0730-0212 ;EISSN: 1930-5087 ;CODEN: MOBAAX

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  • Title:
    An Office UPGRADE
  • Author: Bell, John
  • Subjects: Business conditions ; Business forecasts ; Central business districts ; Commercial real estate ; Economic conditions ; Economic recovery ; Economists ; Employment ; Executives ; Hiring ; Industrial space ; Leasing ; Occupancy rates ; Office space ; Real estate financing ; Unemployment ; Vacancies
  • Is Part Of: Mortgage Banking, 2011-04, Vol.71 (7), p.66
  • Description: The US' office market is in the initial stages of recovery. But industry insiders caution it's going to be a long and slow recovery. The primary barrier to a recovery in the office market has been lack of job growth and high unemployment. Another factor working against recovery in the office market is cited in the 2011 Emerging Trends in Real Estate report co-produced by the Washington, DC-based Urban Land Institute and New York-based PricewaterhouseCoopers. Technological advances combined with outsourcing of jobs overseas and/or home-based freelancers all are forces that together dampen overall demand for office space. Most sources agree that 2011 will be a year of transition for the office market. They look for further improvement in 2012, but no substantial recovery until 2013 or 2014. On the financial front, lenders are not pulling back on office, but are focusing their attention on core properties in top-tier markets.
  • Publisher: Washington: Mortgage Bankers Association of America
  • Language: English
  • Identifier: ISSN: 0730-0212
    EISSN: 1930-5087
    CODEN: MOBAAX
  • Source: ProQuest Central
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