Search
 

Ira Kerner on Last Week's Poll Question

'We certainly see the impact on shopping centers.'

By Brianne Harrison | Updated on August 01, 2008

ARE HIGH GAS PRICES AFFECTING REAL ESTATE?

As if a sluggish economy wasn’t bad enough, just when people have to tighten their belts or do without a regular paycheck, gas prices are shooting through the roof, creating a ripple effect across a number of industries, including real estate. A stunning 82% of this week’s poll respondents say that the high price of gas is changing the way they do business. A mere 18% report that it’s not having much of an effect. Ira Kerner, a broker with Metro Commercial Real Estate, sees the effect gas prices are having on retail. Here is what he has to say:

“We certainly see the impact on shopping centers that people might have to drive further to get to. We also expect a lot more commerce to be done through the Internet. Retailers are expecting this as well, which is why we’re seeing a sense of uneasiness among retailers, because they know this is going to impact them directly.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.