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Large Majority of Real Estate Execs Confident in Industry Outlook

The real estate market has been searching desperately for good news or signs o

As one of the most troubled industries in the post-recession economy, the U.S. real estate market has been searching desperately for good news or signs of recovery. Now, nearly four years after the collapse of the financial markets, sentiment seems to be improving.

At the third annual

As one of the most troubled industries in the post-recession economy, the U.S. real estate market has been searching desperately for good news or signs of recovery. Now, nearly four years after the collapse of the financial markets, sentiment seems to be improving.

At the third annual Akerman U.S. Real Estate Summit in Miami, Florida, this week, more than three-fourths of surveyed real estate executives - 82 percent - showed greater optimism and an improved outlook for the industry, up 6 percent from last year. Half of respondents cited the improving overall economy as the reason behind their confidence.

Many respondents - 43 percent - cited credit availability as the most pressing issue currently facing the real estate market.

"The outlook for the commercial real estate industry in 2012 is bright," said Richard Bezold, Akerman national real estate practice group chair, "but the recent recovery is still tenuous, and could be dampened by a range of factors, including the continued uncertainty in Europe, persistent restraints on debt and equity financing."

Rising energy costs may also pose a threat to wider economic health, but most analysts hold that if the job market continues to improve then everything else will follow.

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