Inland Empire Real Estate Forecast
Despite the current housing slump, the Inland Empire should remain the nation’s top industrial market as international trade and cheap, available land lure warehouse developers. Larger speculative facilities along Interstate 215 will take longer to lease as rising fuel prices add to the cost of travel from the LA/Long Beach ports. The area’s office market should remain competitive with surrounding counties due to affordable rents and newly completed space. The Ontario Airport submarket continues to be a hub of office activity. The Riverside submarket accounts for more than half of all office construction in the Inland Empire and vacancy rates will fluctuate as new buildings come online next year. Click here to read more of the USC Lusk Center Forecast.
Sub-prime fallout finally reaches Manhattan
Finally, almost belatedly, the few square miles of upmarket central New York real estate is beginning to suffer the impact of the credit crisis. Wall Street bankers are delaying the purchase of new apartments, keenly aware that the country sits on the brink of recession, and the boom in the Big Apple is showing signs of abating. The rest of the US was already feeling the chill of a cooling housing market, with property prices suffering their worst slowdown for 16 years. But Manhattan had remained resilient, buoyed by surging demand and limited supply. But according to Gregory Hymes, chief economist at property company Brown Harris Stevens and one of the leading experts on the Manhattan real estate market, although residential property prices hit a record high in the third quarter of the year, real estate agents are beginning to see a slowdown in activity as bankers guard their bonuses. Click here to read more.
~Tina Jan~
Coldwell Banker Kivett-Teeters
1655 E. Sixth St.
Beaumont, CA 92223
Work: 951-845-5520 Ext. 105
Fax: 951-845-4916
Cell: 909-446-2666
Toll-Free: 1-877-TINAJAN
tina.jan@coldwellbanker.com
www.tinajan.com
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