{"id":1004033720,"date":"2011-10-31T04:19:41","date_gmt":"2011-10-31T12:19:41","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004033720"},"modified":"2022-12-03T06:35:34","modified_gmt":"2022-12-03T14:35:34","slug":"industry-leaders-dial-back-expectations-real-estate-roundtable","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/industry-leaders-dial-back-expectations-real-estate-roundtable\/","title":{"rendered":"Industry Leaders Dial Back Expectations: Real Estate Roundtable"},"content":{"rendered":"

October 31, 2011<\/strong>
\nBy Nicholas Ziegler, News Editor<\/em><\/p>\n

While several surveys of late have generally said the economic outlook is improving — including last week\u2019s Reuters \/ University of Michigan\u2019s consumer-sentiment index <\/a>and the Urban Land Institute\u2019s exhortation to \u201cbe patient\u201d <\/a>— the commercial real estate executives at the Real Estate Roundtable have seen their outlook drop to its lowest point since 2009.<\/p>\n

\u201cFor the first time in two years, a significant portion of respondents see conditions as worse than a year ago and predict a decline in the coming year,\u201d said the report. Consensus is that the decline reflects myriad concerns: The pace of economic recovery, Washington\u2019s ability to address fiscal- and tax-policy challenges and the long-term European debut situation, among others. After rising slightly at the beginning of the year and remaining at 77 out of 100 in the second quarter of this year, the overall index dropped significantly to 69 in the third quarter and then further to 59 in the current survey.<\/p>\n

Calling the drop \u201ca material shift in perceptions on current and future market conditions, property valuations and access to debt and property capital,\u201d the survey underlined the uneven recovery seen for most of 2011.<\/p>\n

\u201cFor much of the past year, we have been concerned about the uneven, or \u2018bifurcated,\u2019 nature of the commercial real estate recovery \u2014 and have focused on policy ideas to foster job growth and broaden this recovery beyond the urban \u2018gateway\u2019 markets,\u201d Jeffrey D. DeBoer, Roundtable\u2019s president & CEO, said. \u201cNow, amid tremendous uncertainty on an array of federal policy issues, expectations are being dialed back considerably, and commercial real estate fundamentals are again under pressure, even in areas that had recovered significantly in terms of property values, pricing and access to credit and capital.\u201d<\/p>\n

The percentage of survey respondents who said debt availability is \u201cmuch better\u201d today versus one year ago shrank from 36 percent in Q3 to only 6 percent in the latest survey.\u00a0 There was a corresponding spike\u00a0 \u2014 from 2 percent in Q3 to 26 percent in Q4 \u2014 in the percentage of respondents who said debt availability today is \u201csomewhat worse\u201d than it was one year ago.\u00a0 Looking ahead, more respondents in the Q4 survey said they expect debt availability to be about the same or somewhat worse next fall.<\/p>\n

On the equity side, 77 percent of Q3 survey respondents said conditions \u201ctoday\u201d are at least somewhat better than one year ago.\u00a0 In the latest survey, only 40 percent of respondents characterized current conditions as \u201csomewhat\u201d or \u201cmuch\u201d better than one year earlier.\u00a0 As for future conditions, 14 percent more Q4 survey respondents expect equity availability one year from now to be \u201cabout the same.\u201d<\/p>\n

The Real Estate Roundtable\u2019s report was based on a survey conducted from Oct. 3 \u2013 12, 2011. The next report will be released in February 2012.<\/p>\n","protected":false},"excerpt":{"rendered":"

While several surveys of late have generally said the economic outlook is improving, the CRE executives at the Real Estate Roundtable have seen their outlook drop to its lowest point since 2009. <\/p>\n","protected":false},"author":1201,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21781,21742],"tags":[],"class_list":["post-1004033720","post","type-post","status-publish","format-standard","hentry","category-corporate-real-estate","category-latest"],"acf":[],"yoast_head":"\nIndustry Leaders Dial Back Expectations: Real Estate Roundtable - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/industry-leaders-dial-back-expectations-real-estate-roundtable\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Industry Leaders Dial Back Expectations: Real Estate Roundtable\" \/>\n<meta property=\"og:description\" content=\"While several surveys of late have generally said the economic outlook is improving, the CRE executives at the Real Estate Roundtable have seen their outlook drop to its lowest point since 2009.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/industry-leaders-dial-back-expectations-real-estate-roundtable\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2011-10-31T12:19:41+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-03T14:35:34+00:00\" \/>\n<meta name=\"author\" content=\"Nicholas Ziegler\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/industry-leaders-dial-back-expectations-real-estate-roundtable\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/industry-leaders-dial-back-expectations-real-estate-roundtable\/\",\"name\":\"Industry Leaders Dial Back Expectations: Real Estate Roundtable - 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