The beleaguered economic recovery is dominating headlines nationally and internationally. With multiple variables stifling growth—from the debt crisis in Greece to the Arab spring to protracted sluggishness in the U.S. housing market—the Federal Reserve has downgraded its own view on the economy.
But from my vantage point, there are plenty of reasons for optimism. Here are a few data points:
• Dallas Art Fair. In April, we hosted our third annual Dallas Art Fair, where more art was sold than in the last two years combined.
• Fashion Industry Gallery. Our June market was strong and neared 2007 numbers in terms of buyer traffic.
• Museum Tower. Demand is strong for large residences.
• Industrial demand. Activity within our 25-city advisory portfolio of industrial properties has exploded since 2010, as has lease execution.
Based on my empirical observations both in Dallas and around the country, we will have an uptick in economic activity in the second half of this year.
John Sughrue established Brook Partners Inc. in 1994 to capitalize on real estate investment opportunities in the Southwest. The firm has since evolved into a leading full-service development, investment, and advisory company. Contact him at [email protected]