Forecast Looks Good for Commercial Real Estate

By: Jack Snyder: REALTOR® Magazine Online
With the U.S. economy growing and foreign investment at an all-time high, mortgage industry economists are predicting a solid year for commercial real estate.

"We're looking for a pretty good year, at least as good as last year and possibly better," says Doug Duncan, chief economist of the Mortgage Bankers Association of America.

Lending increased in all commercial sectors last year, with office development leading the way, followed by apartments, retail and hotels.

The mortgage bankers, who are currently holding their annual meeting in Orlando, applauded the recent extension of federally backed terrorism insurance, which they say gave commercial real estate a boost.