Washington, D.C.; San Francisco; Austin, Texas; Boston and good old New York top the list of five projected top real estate markets for 2010, according to The Urban Land Institute.
Washington, says the report from ULI, is where “…major insurers and big banks have taken a long term view and are actually providing financing for new deals.”
In San Francisco, the ULI says “an expanding regional tech industry” should help fuel the sales of apartments, offices and other commercial spaces.
Austin, says the report, will continue to enjoy low state taxes and a pro business climate.
Boston’s apartment vacancies, says the report, are well under 10 percent while “condo/house pricing ‘remains stiff.'”
And, in New York, midtown availability rates, says ULI, are “predicted to skyrocket from mid single digits into the mid-teens…”
Predictions being predictions, who is to say if most, any or none of this will come to fruition? But considering the otherwise bleak real estate landscape out there in many parts of the nation, isn’t this, at least, a pretty cool potential gift to all investors in the year to come?
Happy New Year!