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UF Survey: Real Estate Confidence Sinking

GAINESVILLE, FL-The Bergstrom Center says current conditions compare with the 1974 recession.

By Carl Cronan | Updated on January 21, 2009

(Carl Cronan is editor of Real Estate Florida.)

GAINESVILLE, FL-A new report by the University of Florida’s Bergstrom Center for Real Estate Studies shows that statewide confidence in practically all sectors is at its lowest point in three years of surveys. Going back further, current conditions for real estate are comparable to those during the 1974 recession.

The center’s survey of economic experts finds that belief in the market has sagged to new lows that haven’t been experienced in Florida in decades, particularly in commercial real estate sectors such as retail, office and multifamily condo. Rather than seeing only short-term trouble, as in recent years, experts are revising their outlook for recovery well beyond 2009.

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