News
AND NOW A BREAK FROM APARTMENTS
November 22, 2011
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| ?Recovery is here, but don't expect it to be V-shaped,? says Michael Steinberg, a real estate guy from CRE research and analytics firm Reis. Office buildings in Seattle took hits during the recession, with vacancies almost doubling from a low of 8.9% in 2007 to 17.3% by the end of 2009. But vacancies began improving in early 2010 and by Q3 2011, vacancies were down to 15.2%. Employers like Boeing and Amazon.com are helping push demand for space, and low supply growth in 2011 means less of a glut to deal with. Still, don't expect a surge in absorption unless the outlook for overall economic growth gets better. |
