January 27, 2011
This week’s OBP Perspective is provided by Jim O’Connell:
Although there are numerous variations to it, one of my favorite sayings is “be careful of what you expect to get because you are likely to get it”. This was certainly true four years ago when all you read about was how we were heading into bad times. One of the selected articles this week is a recent piece from USA Today that claims economists are significantly upgrading their forecasts on U.S. economic growth in 2011. I don’t think we need to spend time on the positive effects that news can have but it seems to me that whether we are reading the USA Today, the Wall Street Journal or some other news report, we are most definitely seeing and hearing many more positive projections that are pointing toward more favorable economic conditions for 2011. In terms of the commercial real estate world, we are certainly experiencing a greater flux in all areas of activity as the year begins, and any one on our team would tell you that we expect 2011 to be a much more active year when it comes not only to positive economic growth but also increased transaction activity.