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Article: How long will the tenant's market last? (Real Estate).(commercial real estate market)(Brief Article)(Statistical Data Included)
- Article from:
- Westchester County Business Journal
- Article date:
- September 16, 2002
- Author:
CopyrightCOPYRIGHT 2002 Westfair 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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It's that time in the economic cycle where the lagging nature of the commercial real estate market becomes more visible than the North Star. The economy looks and feels like it has emerged from the recession, but employment remains a lagging indicator. Companies have been reluctant to hire until they have a few good months of increasing orders under their belts and are confident that their new business can be sustained.
That presents a real timing problem for building owners. Unfortunately, demand for commercial real estate, particularly office space, depends on employment growth. The conundrum is that while employment growth is a lagging indictor of economic ...