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Real Estate Recovery To Hit A Soft Crescendo

Domestically and globally, 2010 will be a transitional year rather than a turning point for commercial real estate recovery, according to ING Clarion.…

By Paul Bubny - Northeast region editor of GlobeSt.com and Real Estate Forum. | Updated on December 09, 2011

Domestically and globally, 2010 will be a transitional year rather than a turning point for commercial real estate recovery, according to ING Clarion. In a recent media event at the company’s offices at 230 Park Ave. in New York City, David Lynn, head of US research and investment strategy, said recovery will be “a gradual process, not a crescendo like the early 1990s.”

In fact, late this year, the recovery will enter into the third phase of what Lynn described as a four-phase process, as lenders begin selling in earnest. Phase four, in which an improving domestic economy and stronger fundamentals lead to rising income and property values, isn’t likely to occur until 2012 or 2013 at the earliest.

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