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World Markets to ‘Muddle Through’ Uncertainty

LONDON-The three top global economists at CB Richard Ellis discussed the uncertainty that descended in the second half, and agreed that slow but positive growth is the future prognosis.

By Robert Carr | Updated on October 03, 2011

LONDON-The US and European commercial real estate markets are likely going to “muddle through” the current economic uncertainty, while Asia, particularly China, could even benefit from the recent slowdown, according to experts at CB Richard Ellis. The company’s European Chief Economist Peter Damesick, Asian Head of Research Nick Axford and US Head of Research Asieh Mansour agreed that a slow growth period, not a recession, is likely the future for at least the next year, during a recent Global Themes podcast.

Moderated by company Chief Economist Raymond Torto, the discussion showed clear the current differences in the three regions. Europe, Damesick said, has seen a few months of slowing activity and a shift in investment expectations due to debt crisis problems in countries such as Greece, Spain and Portugal. This uncertainty is now mutating into a private sector banking crisis, and is showing wider disparities in demand for space the core and non-core areas.

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