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Housing still a sweet spot for developers in ’06

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Gruen Gruen + Associates, a research and consulting firm specializing in urban economic, market and land use/public policy analysis, makes the following predictions for the economy and real estate industry in 2006: 1. In 2006, the U.S. economy will be more buoyant than the contentious political mood of the country, with Gross Domestic Product growing between 3.4 and 3.8 percent. Local growth rates will vary above and below this positive nationwide output. 2. Areas waiting for high-tech employment to recover will begin to enjoy another upward cycle propelled by Internet-using innovations, acceptance of more biotech products, and the ability of chemical industries to avoid the drags of high oil prices. 3. Areas with global comparative advantages in entertainment, specialty manufacturing and logistics support will benefit from growth in exports and domestic demand. 4. Fastest employment growth will gravitate to suburban and exurban locations where local firms have strengths in these advan...