Deal Flow Mushrooms, But Real Estate Recovery Hinges on Job Growth
The nation’s credit markets are showing early signs of stabilizing after the long and harsh economic crisis, and deal volume across the commercial real estate spectrum is increasing. But the job market remains volatile, and until it shows greater strength, the office, multifamily and other property types will continue to suffer.
That’s the conclusion of economists from New York-based research firm Reis. The national unemployment rate in October was 9.6%, according to the U.S. Bureau of Labor Statistics, and economists project that it will creep upward in the coming months.
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