ULI’s “2011 Emerging Trends in Real Estate” report provides a muted outlook for CRE, but some interesting takeaways for the Nashville market. The Nashville Business Journal sums up the general CRE outlook here.
I think that if the ULI used a “good/bad/ugly scale” for its report’s abstract, it would read something like this:
The good: land acquisition, long-term lending
The bad: employment
The ugly: retail, long-term debt
The fact that long-term lending is touted as a good thing, while long-term debt is described as a bad thing is a conundrum to me: Doesn’t one cause the other?
One thing that was mentioned on the positive side of the CRE balance sheet was that Nashville’s 2011 outlook ranks first among southern cities, ahead of Charlotte and Raleigh-Durham. That’s great considering that Nashville only ranks 13 in population compared to other southern cities.
I’ll take a #1 outlook any day.