IE markets muddled - Inland Valley Daily Bulletin
It's no secret the Inland Empire's struggling economy is meddling with every real-estate sector in the market.But getting some insight into what's in store for 2009 and 2010 could be valuable.
That's what local business professionals sought at Wednesday's annual Real Estate Update, held at Rancho Cucamonga's Victoria Gardens Cultural Center and hosted by the Riverside-based Inland Empire Economic Partnership.
Before the event, we asked the experts on the real-estate panel their thoughts on the Inland Empire's residential, office, industrial and retail markets. Here's what they had to say:
RESIDENTIAL
JOHN KALMIKOV
Senior vice president at Lee and Associates, Riverside
Unemployment is having a strong impact (on apartment vacancies). Given that, we're seeing that location is critical.
West of the 15 Freeway, the vacancy rate is relatively stable; however, east of the 215, the vacancy rate is double digits.
The San Bernardino market will