CHICAGO—DLA Piper released a new “State of the Market Survey” at its 14th Global Real Estate Summit in Chicago today, and the results show that most top commercial real estate executives remain optimistic . Sixty percent of the 222 surveyed were “bullish” on CRE's prospects. That's a big drop from 2014, when 89% expressed similar confidence, but considering we're now seven long years into a recovery, it's also a testament to the industry's underlying strength.
“If you would have asked me two or three years ago, I would not have predicted the optimism would last,” John Sullivan, US chair of the firm's real estate practice, tells GlobeSt.com. Several factors stretched out this recovery. “We did start from a very low point in 2009, and we have had very slow growth since then.”
“But a bull market can last only so long,” he cautions. However, what will bring this one to a close is still a mystery.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
