It’ll take a while to get here – but economists at UCLA’s Anderson School of Management say there’s a recovery ahead in the commercial real estate market.
Every six months, Anderson School economists talk with commercial real estate investors and developers to see what they envision in the years ahead.
Last June, their Allen Matkins/UCLA Anderson Forecast survey picked up some feeling that the stagnant commercial real estate biz will get busy toward the end of next year. Anderson senior economist Jerry Nickelsburg says the latest survey from November and December “bolsters” those results. He says that after 18 months of pessimism, he’s now observed six months of optimism.
So why is it good news that a rebound in commercial real estate is nearly two years away? Because – says UCLA’s Jerry Nickelsburg – a recovery in commercial real estate lags behind a recovery in the rest of the economy. So if commercial real estate investors are confident their business will get better soon, we can all be confident things will get better for us sooner.