Experts See Tough Year Despite Job Growth

SAN DIEGO-Economists and commercial real estate leaders expect continued job growth here, but they are chalking up 2008 as a tough year and don’t expect to see a turnaround in the regional economy until 2009. Those were some of the themes sounded as 175 industry professionals and others in related fields gathered on Thursday at the fifth annual RealShare San Diego conference and networking event at the Hyatt Regency LaJolla.

Keynote speaker Kelly Cunningham, economist and senior fellow at the San Diego Institute, kicked off RealShare San Diego. Kelly acknowledged the commercial real estate markets in the city and county of San Diego are facing the same challenging conditions as the rest of the country. But he noted that San Diego also benefits from its coastal location, a strong biomedical industry and a growing tourism base.

“I see San Diego continuing to grow,” he said. “We will continue to add jobs.”Cunningham’s keynote address was followed by a town hall meeting that weighed in on the question, “How Will San Diego Fare in 2008?” His remarks and the town hall meeting were part of a combination of individual and panel discussions, keynote remarks and networking opportunities designed for commercial real estate professionals at Thursday’s event.