Senior real estate execs still bullish on U.S.

C-suite executives in real estate are more bullish on the U.S. economy than the global economy and expect real estate development to increase, according to a survey issued Monday.

Crown Towers

A survey of senior real estate executives found that the C-suite is more bullish on the U.S. economy than the global economy, and that they expect U.S. land development to continue to increase in 2016. Here, a rendering of the Crown Towers proposal in Dunwoody. Source: Crown Holdings Group and tvsdesign

While global markets chill a bit amid a rash of instability, top executives polled for the 2016 Real Confidence survey showed a higher confidence rate for the domestic economy over global concerns (63.3 percent vs. 45.4 percent) and showed a “healthy” 68.5 percent rate of confidence in the health of the U.S. real estate market.

The survey by Altus Group, the National Association of Real Estate Investment Trusts and the National Council of Real Estate Investment Fiduciaries measures responses on a scale of 0 (indicating no confidence) to 100 (absolute confidence).

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The executives surveyed showed “better-than-average confidence” the survey said that development will increase in 2016.

Not all the news is good, however.

Senior real estate executives do worry about issues ranging from terrorism to energy prices and the market calamity seen in counties such as China and see the U.S. as a safer haven. But real estate executives polled are less bullish on job growth than many forecasters.

There also is some concern about a development and pricing bubble in cities like San Francisco and New York.

To read more on the survey, click here.

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