Commercial market should improve, issues remain

The commercial market will likely have multiple improvements in the near future.

The situation for many property management companies may strengthen in the coming months, according to a group of experts during a webinar conducted by Reed Construction Data.

With the election now complete, many industry members will be able to concentrate on what is to come for the market in the next few years. This has to do with the several dangers to the commercial market, such as tax discrepancies and the fiscal cliff, The USGlass News Network explained, citing the webinar.

"With funding for public construction projects seemingly have run its course, the need to ease lending requirements for both private commercial construction projects and residential home construction will play a much larger role in how the architecture, engineering and construction [industry's] economy will look over the next 18 to 24 months," said John Rovi, business development manager of Sapa Extrusions North America, according to the news source.

However, some are still worried. The news source added that Ken Simonson, chief economist at Associated General Contractors of America, noted that the retail sector, as well as the overall office market will likely continue to struggle. This is because more company employees are working outside the office, and offices are downsizing.

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