Real Estate Expert: Be Patient and Build Liquidity

By Brus, Brian | THE JOURNAL RECORD, February 7, 2012 | Go to article overview

Real Estate Expert: Be Patient and Build Liquidity


Brus, Brian, THE JOURNAL RECORD


Real estate developers in Oklahoma and nationwide can take some comfort in the apparent trend of economic stabilization, Urban Land Institute fellow Stephen Blank said, but demand hasn't matched available capital yet.

So be patient and build liquidity, he told attendees at the Commercial Real Estate Council's annual forecast conference in downtown Oklahoma City.

"For 2012, the industry will face a continuation of what amounts to be a long grind, where returns for the best properties level off, and commodity real estate continues in a limbo-like world of nonrecovery," he said. "We have been saying for several years that this recovery would not be easy, and in fact, it looks more like an endurance contest."

Blank visited from New Jersey, where he works as a researcher on the popular Emerging Trends industry forecast report series. His presentation was succeeded by Mark Beffort, president and CEO of Grubb & Ellis Levy Beffort, who shared his ideas on the local market.

Both men said Oklahoma City is on the cusp of national recognition, and the only reason to fall short of the top market lists is a matter of perception. Neither Beffort nor Blank offered any ideas on how to break through.

The current economic recovery isn't following the model of typical past recoveries in the United States, as more businesses are finding ways to use less space and reduce their overhead, Blank said. Investment capital hasn't been making its way into real estate, except for the multi-unit housing apartment sector. And related to that, Blank said he expects that once home sales start to pick up, the trend will be for houses to be turned into rental units.

"For real estate investors, it means declining return expectations," he said. "How much you make going forward will depend on when, and where, you've invested. If you invested in 2009 and 2010, when we said you should have, in the prime gateway markets, where we said you should have, it's time to take some chips off the table. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

Real Estate Expert: Be Patient and Build Liquidity
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Author Advanced search

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.