Search
 

Expert: 24 to 30 Months of Hard Times Ahead

DALLAS-The region won't escape unscathed, but the good news is its job growth is on track, as are other fundamentals, to stay ahead of the pack on the long road back.

By Connie Gore | Updated on October 16, 2008

DALLAS-The bad news is the economy will need 24 to 30 months to recover. The good news is Dallas/Fort Worth’s stars are aligned to keep it leading the pack on the long road to recovery.

The region, though, won’t escape unscathed: it’s going to get even slower than it is now. In taking the region’s temperature for CRE fundamentals, Gregory Leisch, president and CEO of Delta Associates, the research arm of Transwestern Commercial Services, said Dallas/Fort Worth is destined to stay “reasonably healthy if we continue to grow jobs.” His crystal ball shows North Texas will add 30,000 jobs per year for the next three years, falling 26,500 jobs short of its average annual gain.

“It’s a sufficient rate for a sturdy real estate market if we don’t overproduce product,” Leisch told brokers, investors and bankers at last night’s TrendLines, the firm’s sixth annual forecast event for Dallas/Fort Worth held at Northwood Club in North Dallas. He pointed out that the region added 59,800 jobs between January and July, starting into the hard times as the US leader for new jobs.

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.