Recovery in doubt as market fundamentals appear to remain weak
Beverly Hills, CA (PRWEB) June 9, 2010 -- One of Broberg Capital’s top executives addressed the future of the housing market at the 11th Annual US Real Estate Opportunity and Private Fund Investing Forum in New York City last week.
Dennis Cisterna III, Vice President of Acquisitions, moderated a discussion of current and future housing market and economic fundamentals along with executives from Lubert-Adler, Mountain Funding, Lighthouse Realty Fund, PWC, Walton International, and Robert Sheridan & Partners.
“While news reports and press releases indicate the economic recovery is well on its way, key data overwhelmingly supports that more corrective measures are in order for the economy and the housing market. The fundamentals of growth, whether fueled by government or private spending, are not nearly as robust as previously indicated,” noted Cisterna.
Reviewing data from the first several months of 2010, Cisterna cited “poor job growth, the expiration of the homebuyer tax credit, and a surplus of shadow inventory of defaulted loans and REO’s” as reasons for continued challenges within the housing market.
Cisterna also mentioned that even in the face of uncertainty, there are tremendous acquisition opportunities in the market today. “There are still great buys available today, regardless of asset type. The key is understanding the dynamics and drivers of local markets. As much as we want to put the US housing market into a single box, real estate has and always will be highly localized. Not every market has shadow inventory and poor job growth. At Broberg, we continue to use our experience and relationships to understand these markets and locate the opportunities”.
About Broberg Capital:
Broberg Capital is an international real estate investment firm focused on distressed real estate opportunities in the U.S. market. Broberg's management team has over 60 years of combined experience in the acquisition, management, and disposition of distressed real estate. With operations in more than 20 states across the U.S., Broberg Capital offers a national presence coupled with local experience to provide comprehensive real estate investment solutions. For further information on Broberg Capital, please visit www.brobergcapital.com.
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