not see two very different RE markets...
going in the opposite directions.
---------
Tomorrow will report retail
---------
While these apartment numbers are looking very good.
There is, as the Seattle Times reported, a serious problem of potential overbuilding.
Possibly another "bubble economy".
--------
However, for Offices, tis still very bad, and not improving very fast.
=========
Multi-family starts are increasing,
These new starts will not be completed until 2012 or 2013
so vacancy rates will probably continue to decline.
--------------
A total of 8,865 new units became available in the fourth quarter
the second-fewest for any three-month period in Reis records dating to 1999.
The first quarter of 2011 had the fewest units, at 7,473.
===========
Some 12.3 million square feet of new office space came to market last year
the lowest such level in 15 years
-----------
given the severity of the last downturn and the lackluster pace of economic growth
it will be years before the office sector climbs out of the hole.
---------
=========
Reis: Apartment Vacancy Rate falls to 5.2% in Q4, Lowest since 2001
http://www.calculatedriskblog.com/2012/01/reis-apartment-vacancy-rate-falls-to-52.html
-----------
Reis: Office Vacancy Rate declines slightly in Q4 to 17.3%
http://www.calculatedriskblog.com/2012/01/reis-office-vacancy-rate-declines.html
========
No comments:
Post a Comment