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Dayton
Business Journal...
Economist:
Slow year for commercial real estate
by Olivia
Barrow, Staff Reporter
Thursday,
August 2, 2012
Slow growth
in the U.S. economy means a slow year for commercial real estate,
according to Cassidy
Turley’s Chief Economist Kevin Thorpe.
In order to
return to historic leasing activity levels, the U.S. office sector
needs an
average national GDP growth rate of 2.5 percent, Thorpe said in his
U.S. Macro
Forecast. The meager 1.5 percent growth recorded for the second quarter
of 2012
means commercial real estate will turn “increasingly sluggish.”
“We are
certainly seeing the ‘increasingly sluggish’ metrics in the commercial
real
estate market in Dayton and are hopeful — although not optimistic —
improvement
comes before the November elections,” said Tony Witt, senior vice
president at
Cassidy Turley’s Dayton office.
Thorpe said
he does not expect the economy to pick up until 2013.
Read the
article plus a full report at Dayton Business Journal
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