So, first thing I read this morning is the Bizsense article "All of a Sudden, Boomtown USA," which describes the over 200% increase in commercial deal value for the first four months of 2011($160.6M), compared with the same time period in 2010 ($47.9M).
The next thing I read is the Richmond Times-Dispatch article, "Homebuilders Say Outlook Remains Soft." [NOTE: The online version's article is titled "U.S. Homebuilders Remain Pessimistic," which seems to me a more negative title. I wonder why the discrepancy?] According to the article, the National Homebuilders Association's projections for the future were its most pessimistic since September 2010. Which is saying something, since all of 2010 was pretty daggone awful.
So what gives? How can commercial real estate be looking up, and residential real estate still be on life-support, if not flat-lining? I don't have any hard evidence or data to back up my findings [I know, I know, for some of my metric-driven colleagues and clients, this makes you crazy]. However, I do have some theories, which I intend to share, just in my next post. Right now, I have two hours to get my office desk clear enough that a new desktop computer can be installed. Anyone who has seen my office knows that will be a tall order. More later....
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