Viewpoint 2005, the preeminent real estate economic forecast published by Integra Realty Resources, the largest valuation and counseling firm in the United States, has been released.
This is is an excellent publication which tracks economic and real estate trends in major markets.
Click Here for the free download.
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Good news for Memphis? Page 11 of the report lists Memphis in the "Recovery Phase." IRR defines that phase with the following characteristics:
1. Decreasing Vacancy Rates
2. Low New Construction
3. Moderate Absorption
4. Low to Moderate Employment Growth
5. Negligible to Low Rental Rate Growth
While these factors seem to paint a bleak picture, IRR seems to think the decreasing vacancy rates foreshadow growth in the other areas.
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