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Economist Says Houston Vacancy Declining

HOUSTON-Dr. Barton A. Smith of the University of Houston's Center for Public Policy has collated data that shows the office vacancy rate is dropping and will continue to do so through 2006. By 2003, it will be below 10%.

By Jennifer Brenner Andrade | Updated on June 29, 2001

HOUSTON-Houston economist Dr. Barton A. Smith predicts office vacancy will “penetrate the 10% barrier and remain below that level for the foreseeable future.” The relief won’t come until 2003, according to Smith’s charts.

Smith had made his prediction at a recent Houston Real Estate Symposium. Right now, vacancy is riding at 12%, he says. Smith is the senior economist for the University of Houston’s Center for Public Policy. His research has been conducted in conjunction with the Institute for Regional Forecasting at the center.

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