A Washington D.C.-based real estate and land use research group, The Urban Land Institute, have released a report that forecasts a cautious outlook for the nation's real estate markets. Concerns over the economy, job growth and the likelihood of higher interest rates all contribute to this cautious outlook. The report was based on a survey of more than 500 real estate executives.

There's a lot of ambiguity out there about the economy, said Jonathan Miller, the author of the report and a senior vice president of GMAC Institutional Investors in Manhattan. Several factors that could impede economic expansion include federal budget deficits, a growing trade deficit, the weak dollar, inflationary pressures from high oil prices, rising employer health-care costs, choppy job growth prospects, fears of terrorism, uncertainly over the war in Iraq and the possibility of interest rate spikes.

Although the forecast stresses cautiousness, real estate executives remain confident that U.S. markets can avoid scenarios that would crater property values. The report noted that occupancy rates, leasing rates and operating expenses are all improving. The report also cited New York City among the hottest real estate markets in the country, along with Southern California, Washington, D.C., and South Florida.

If you want write the news for our site please e-mail inf@everythingre.com

To discuss this article Click Here to go to our Online Forum