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GlobeSt.com EXCLUSIVE: Mergers, Recessions, the Bottom Line Form Basis of RealShare DC

WASHINGTON, DC-Some 400 real estate leaders descended on the Grand Hyatt here for RealShare DC, and a look at how the local market is fairing against other, more troubled CBDs.

By Maria Wood | Updated on March 07, 2003

WASHINGTON, DC-The local office market may have lost a little steam, but it is still going strong in comparison to the rest of the country. Most of the participants at the RealShare Washington, DC conference, sponsored by Real Estate Media Inc. and GlobeSt.com, said the nation’s capital is one of the top, if not the best, city in the country for investment, even though the leasing market has faltered a bit.

“We owe our good fortune to Uncle Sam,” declared Steven Fuller, professor of public policy and director for the center of Regional Analysis at George Mason University. He, like many others at the conference, which was attended by about 400 real estate movers-and-shakers, attributed to the city’s health to the presence of the federal government.

Fuller spoke during an Economist Crossfire, a session moderated by Jonathan A. Schein, president and CEO of Real Estate Media and GlobeSt.com. Also participating in the discussion was Doug Duncan, SVP and chief economist at the Mortgage Bankers Association of America. Speaking on a national scale, Duncan said the impending war with Iraq could have a profound impact on oil prices and, in turn, the economy. “It could take $70 billion out of consumers’ pockets and hit business profits as well,” he stated. “We need to have a stimulus package.”

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