No green shoots for developers
By Geert De Lombaerde Posted on October 30, 2009 at 12:12 pmMarty Heflin of M2H Group says the mood is just plain sour.
“Heaven in 2011?” I am not so sure. In conversations with fellow developers, lenders and investors primarily in the Southeast region, I am not hearing a lot of talk about “green shoots.” I am seeing a lot of downcast faces and concern. The central problem continues to be two-fold: a) the land sellers and asset holders that are distressed haven’t gotten the memo yet and b) the credit markets remain shut tighter than the back of a Swiss watch.
Tags: business sentiment, commercial real estate, construction, M2H Group LLC, real estate development, urban development
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