Friday, May 1, 2009
Recession not hitting all areas equally
For the May/June issue of Midwest Real Estate News, I'm working on a feature story about the impacts of the recession on the commercial real estate market in Des Moines.
The brokers I've spoken with have said that this Iowa city is suffering the same way most of our Midwest markets -- cities like St. Louis, Chicago, Milwaukee and Cleveland -- are. The lack of available financing has killed so much activity.
But the recession isn't dragging down the economy of every Midwest city. Mark Thomton, the editor at Illinois Real Estate Journal, has written this story about Peoria. Turns out there is still some nice building activity going on in the city. And back in March, I wrote this story about a new mixed-use lifestyle center being developed in East Peoria.
Check out the stories. Sometimes it's nice to end a workweek with some good news. We all certainly could use some.