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Good News, Bad News Comes From Market Forecast

NEW YORK CITY-The keynoter wasn't too pessimistic, the forecaster not overly optimistic at CB Richard Ellis' 19th annual market forecast this morning.

By John Salustri | Updated on March 02, 2005

NEW YORK CITY-The macro-clouds are gathering but they shouldn’t block the sun from the micro-picture, not for the near- to mid-term at least. That was the upshot of the market forecast breakfast CB Richard Ellis hosted this morning at the Marriott Marquis Hotel here.

The bad-news portion of the forecast was delivered by keynoter Robert E. Rubin, treasury secretary under President Bill Clinton and currently director and chairman of Citigroup’s executive committee. The more upbeat portion of the program was laid out by John Powers, CBRE’s New York co-chair, tri-state region.

Rubin, for his part, characterized the current investment landscape as marked by “especial complexity and especial uncertainty” for investors. Leading the downward spiral for the macro-economic picture is a national deficit that could hit $10 trillion within the decade and continue to escalate from there.

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