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Article Excerpt
A forecast by Grubb & Ellis Co., a leading provider of integrated real estate services, indicates that U.S. economic growth during this year should be strong enough to propel office vacancies lower, but not strong enough to push interest and mortgage rates sharply higher.
"In many respects, the slow to moderate growth forecast for 2005 is nearly ideal for real estate," said Robert Bach, national director, market analysis for Grubb & Ellis. "In many ways it will be just like the porridge in Goldilocks, not too hot and not too cold."
Beyond 2005, the looming budget and trade deficits and high levels of household debt are likely to restrain the growth rate of the U.S. economy, but are unlikely by themselves to trigger a recession. A summary of the forecast by sector follows:
OFFICE MARKET...
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