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Article: Real estate remains hot despite cloudy horizon; Rising rates, uncertainty about economy fail to dampen enthusiasm.(News)
- Article from:
- Investment News
- Article date:
- November 22, 2004
CopyrightCOPYRIGHT 2004 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Arleen Jacobius
LOS ANGELES - The specters of rising interest rates and a sluggish economy might be curbing return expectations for 2005, but they are not curtailing investor interest in real estate, according to a new report.
"A flood of institutional and private buyers, some using gobs of readily available cheap debt, supports values,'' states the "Emerging Trends in Real Estate 2005'' report, released by the Urban Land Institute and New York-based PricewaterhouseCoopers LLP. "These investors wager that an inevitable economic rebound will cover their bets.''
Yet 67% of the survey respondents predicted that real estate would outperform ...