The Real Deal Miami

Long, slow recovery needs jobs

August 12, 2009 02:04PM

Some regional real estate markets believe they’ve hit bottom and are on the way up, but a statewide recovery will not be rapid or robust. A new survey by the University of Florida’s Bergstrom Center for Real Estate Studies shows respondents expect prices to stabilize, maybe rise slightly, then see more sales as a result of low interest rates. But Florida needs jobs to shore up commercial real estate, including the retail and office markets, which are suffering amid high unemployment.