Nov 16, 2012
by Karen Brune Mathis, Managing Editor
Jacksonville commercial real estate brokers, builders and bankers looking for economic encouragement Wednesday heard what University of North Florida economics professor Paul Mason considered the good news and the bad.
“It’s not all bad news for growth, but there’s room for improvement,” Mason told 75 NAIOP Commercial Real Estate Development Association Northeast Florida Chapter members and guests at the Jacksonville Golf & Country Club. He provided a year-end wrap-up.
Mason listed what he called the “black swans” for economic growth, considered to be events that can significantly affect the economy’s progress.
He listed the European debt crisis; “Obamacare,” the Affordable Care Act championed by President Barack Obama; taxes; interest rates; the deficit and the federal debt; and the real estate markets.
Obama was re-elected last week for a second four-year term.
Speaking directly to their market, Mason made four points about commercial real estate: