Modified Sat, Nov 14, 2009 08:56 AM
Real-estate forum is dour - and dry
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close xIf you're a fan of gallows humor, Friday morning's Urban Land Institute Emerging Trends in Real Estate 2010 forum was a hoot.
The forum at The Renaissance Hotel in Raleigh's North Hills provided local real estate professionals with the institute's outlook for next year.
To understand how bad 2009 has been, all you had to do was listen to the jokes, which made light of ULI Triangle's decision to hold the forum in a first-floor ballroom and with no open bar afterward where brokers and developers could drown their sorrows.
As for what ULI expects in 2010, it's bleak for real-estate pros, with falling rents and demand. One bright spot in the group's report: 2010 "will offer a much-improving environment to buy [with cash]." But the real estate market "probably cannot gain much traction until late 2011 or 2012."
Bring on 2013!
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