Expert: 24 to 30 Months of Hard Times Ahead

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.