NAI's Global Outlook
The NAI Global Market Outlook drew nearly 700 attendees from member firms and their clients to Beverly Hills last week. NAI Global chief economist Dr. Peter Linneman, joined by president Jay Olshonsky, says that as global markets continue to recover, "the potential flow of funds into commercial real estate is staggering." When lost jobs are 100% or more recovered, real estate demand is roughly back in balance. (And parents can finally have their couches back.) The US lost nine million jobs in nine months when the recession hit and has regained eight and a half million. LA still has some catch-up to do—we've regained just 50% of the jobs lost, he notes.
NAI Capital co-hosted the event at the Beverly Wilshire Hotel. Chairman Mike Zugsmith (third from left, with colleagues Bill Kiefer, Brian Childs, and Bob Scullin) opened the presentation along with special guest Dick Ziman.