Just saw some encouraging investment information in the Multi-Housing News online 3-18-09 issue in the form of an article written by Anuradha Kher. Basically, there are optimistic views out there about housing recovery, from - among others - The Northern New Jersey District Council of the Urban Land Institute (ULI-NNJ.
“This crisis is an opportunity to redefine fundamentals,” ULI-NNJ Chair Lawrence F. Jacobs of the law firm of Wilentz, Goldman and Spitzer said at the Emerging Trends in Real Estate conference held in New Jersey recently. “ULI believes that the market will take a critical approach to land values based on demand, which may result in a conservative attitude towards development opportunities.”
Still more encouragement from Susan Smith, senior adviser for ULI “Emerging Trends in Real Estate” and manager of the real estate services group at PricewaterhouseCoopers, who says, “2009 is an opportunity year. With little in the development pipeline, existing properties stand to benefit from the recovery.” A “flight to quality” go to apartment properties topping the list as “decent” investments. Certainly green building opportunities are paramount, says Richard Johnson, senior vice president of Matrix Development Group. “We’re dealing with the consequences of looking the other way when home buying sky rocketed. We can’t run and hide. We should use the down-time to mine unique assets that we haven’t mined enough, such as green.”
To read the entire article, go to http://www.multihousingnews.com/multihousing/content_display/news/e3if6a7db1fa90731ddb4524adc30814973
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