Ross Moore has changed his outlook for the better in these last few weeks of 2010. As national chief economist for commercial real estate services company Colliers International, Moore follows about 100 economic indicators that keep his finger on the pulse of the economy and the commercial real estate industry. And since the beginning of the fourth quarter, that pulse has quickened.
“With the exception of housing and unemployment, most of the signals I’m seeing are positive, which does suggest pretty good growth next year,” says Moore.
In particular, the 10-year Treasury yield reversed a year-long decline. It climbed to 3.5% on Dec. 15, up more than a percentage point from the 16-month low of 2.4% on Oct. 8. The critical benchmark for commercial real estate lending has since come down slightly and stood at 3.3% on Dec. 21, but is still well up from the recent low.
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