2009 is a Year to "Hang On and Stay Alive"

Senior real estate executives are predicting more pain for the industry in 2009, with one professional warning 2009 was a year to “hold on and stay alive”.

The US Real Estate Roundtable, in its latest industry sentiment survey, revealed that a majority of the 130 executives it interviewed expected the first six months of 2009 to be “very painful”, with hospitality and retail particularly hit.

Although some professionals believed the US property markets would “bottom” out in the second half of the year, one investment bank real estate head told the industry lobby group: “The second half of 2009 will not be as painful as the last few months. 2009 will be a year for muddling along, and the true rebound will begin in 2010.”

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