Can you actually will the market to get better?To an extent, yes, says Jim DeLisle, director of graduate studies atthe UW's Runstad Center for Real Estate .(We're able to blast an 80-ton rocket out of the Earth's atmosphere, so you'd think it would be nothing to get cap rates up a bit.)
Why are people feeling better about the market than they were a year ago? Jim, who spoke during CoreNet's recent luncheon at the Seattle Yacht Club, says it's because they want to (and jokes maybe because Washington legalized small amounts of pot in December)."If you feel good, the market will be good," Jim says. He's also happy that minimum wage is going up.What he's less excited about is interest rates staying low. ("When things are constrained and then released, they explode.") His development prediction:two new office buildings on each side of Lake Washington, with two 50% leased and two spec.
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