A Central Florida commercial real estate professional for 40 years and an economics graduate, Livingston feels the current economic slowdown may last 24 to 36 months and may be deeper than most expected. "The saving grace is that while this is a very bad bear market, it seems to be a narrow one," Livingston tells GlobeSt.com. "The Dow Jones and the S&P Index are not declining at the same rate as the tech stocks."
The worst bear market was 1973-74 when stocks declined 60% versus 40% today. The average duration for the past nine bear markets has been 14 months, the developer notes. "However, the deeper recessionary period generally takes longer to recover from," he says.
For example, the 1974-75 recession took four years to bounce back. "Personally, I think it may be 24 to 36 months before we see a new high," Livingston says.
Other newly-elected NAIOP chapter officers are: Nan B. McCormick, CB Richard Ellis Inc., president; Pam Carman, Beers Construction Co., secretary; Craig Pollejes, SouthTrust Bank, treasurer; David J. Patten, Interlachen Commercial Mortgage, immediate past president.
New directors are Michael F. Beale, Highwoods Properties Inc.; John Krug, Economic Development of Mid-Florida Inc.; Sandra Moore, Workscapes Inc.; Cyndy Sepulveda,Tierra Verde Consulting Inc.; Robert W. Duncan, Crescent Resources; Mark S. Lieblich, Baker & Hostetler; William S. Moss, CB Richard Ellis Inc.; Ken Simback, Pizzuti Cos.; Tom Green, Colonial Properties; Damien Madsen, Advantis; Paul Petti, LoopNet; Drew Smith, Casto Southeast; Julie Kendig-Schrader, Greenberg-Traurig; Michael F. McArdle, Opus South Corp.; Moses L. Salcido, Duke-Weeks Realty Corp.; Susan Tremel, PCL Construction Services Inc.; Tyler Kirby, SchenkelShultz Inc.; Michael P. Moore, Aagaard-Juergensen Inc.; Joanie Schirm, GEC Inc.; and Kimberly West, Hunton, Brady, Prior & Maso Architects.
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