Commercial market may remain sluggish in 2013

The commercial market may experience slow growth next year.

The commercial real estate situation may not pick up next year due to economic and policy issues, according to Asieh Mansour, economist at CBRE.

Property management companies may experience a slowed market situation due to the uncertainty attached to the "fiscal cliff," as well as business hesitation to buy in the market. This may force some investors to examine future growth plans, Mansour explained in a company forecast, according to the Atlanta Business Chronicle. Low business confidence may end up stunting job growth, overall.

The economic and policy issues could have a significant effect on the market in the near future, Mansour explained. If no decision is made to prevent the fiscal cliff before January 1, there are some government members that predict another recession.

"Policy is dominating implications for [Commercial Real Estate]," Mansour said, according to the news source.

Recovery improved significantly in the past several months, which makes continued recovery possible, especially if the cliff is avoided. The news source added that much of the recovery was specific to major cities, as well as the multifamily market.

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