article in the Memphis Daily News by Sarah Baker
The real estate market is projected to turn around next year, but the industry will have to settle for baby steps in all markets and property sectors.
That was the message more than 250 bankers, investors and real estate professionals heard Wednesday at the Urban Land Institute’s fourth annual Real Estate Outlook for the Mid-South where they learned about the “era of less.”
A shrunken industry, lower returns, crimped profits and substantial losses mark the current state of the real estate market. Top concerns include job growth, refinancing, vacancy rates, deleveraging, tax policies and income and wages.