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Happy Blah Year, CRE

Happy Blah Year, CRE
Wake us when it's 2014. That sums up the sentiment of Wells Fargo?s Mark Vitner  and Georgia State's Rajeev Dhawan, who say Atlanta's economy in 2013  won't be much to write home about. They spoke at our 2013 Atlanta Real Estate & Economic Forecast event yesterday.
bisnow 2013 atlanta real estate & economic forecast grand hyatt buckhead mark vitner wells fargo georgia state university rajeev dhawan
?2014 will be glorious,? Rajeev says. ?Forget about 2013. It doesn?t exist.? He notes that 70% of the countries in the world are either slowing or in recession and fiscal cliff talks are dragging down future growth. Still, Rajeev says, the US is a bright spot in the world economy, a fact that keeps Treasury rates down. ?The Europeans have made us look like the cleanest shirt in the laundry basket,? he says, helping American government refi its debt at cheaper rates.
mark vitner wells fargo bisnow atlanta 2013 economic real estate forecast grand hyatt buckhead
Mark has seen predictions that US GDP will only tally between 1.5% and 2.5% next year, which can be hurt if consumers are spooked or even if taxes go up  marginally (possible if there are Social Security tax increases or an Obamacare 3.8% surcharge on unearned income). ?In many ways, the outlook for 2013 looks dicier than the outlook for 2008,? he says. But all is not lost. Click the video above to hear about Mark?s outlook into 2014.