James McCaughan, of Principal Global Advisors commented that Commercial Real Estate is ready for a significant rebound, he made 3 key points:
1. The financing gap in the CMBS market is being filled.
2. It is time for real estate to react to the recent improvement in the economy
3. Absence of a double dip recession, the economy has the capability for significant job creation in 2011, 2012, if Washington stays out of the way.
The well chronicled Real Estate Issues revolve around 2 key issues:
2. And who will fill the void in the debt market for the massive amount of commercial real estate debt that needs to be refinanced.
This just reinforces the fact that there many varying opinions and positions where Commercial Real Estate is headed….but when all is said and done ….it’s about jobs, jobs, and jobs….this is our core issue.