“Now, more than ever, the real estate industry has the chance to take the lead in using planning and development skills and investment capital to reshape our work and lifestyle environments,” he said. “These tools can be used to address societal issues of safety, green space and racial equity. The gauntlet of responsibility is ours to embrace, and industry leaders see the opportunities and are responding with investment and leadership.”
The report, based on interviews with hundreds of property owners, developers, investors, advisers and others, is always an important read. This year, it’s a critical read.
Now, the Oklahoma City stuff.
The report places the Oklahoma City market with Indianapolis; Birmingham, Alabama; Kansas City, Missouri; and Louisville, Kentucky, in the subgroup “determined competitors” of the major group “backbone markets.”
The report explains: “Determined competitors are diverse markets that are having success in reinvigorating their downtowns and neighborhoods. These markets tend to be strong ancillary locations in their regions … all very affordable with a favorable quality of life.”
That’s us, here in the middle of the country at a major crossroads, Interstate 40 and I-35. If things aren’t rosy here now, it’s largely because things aren’t rosy anywhere, though we’re also singing the crude oil blues.
“Emerging Trends” again puts Oklahoma City among “markets to watch,” even with an overall ranking at just No. 73 (out of 80), with Hartford, Connecticut, just ahead at No. 72, and Louisville just behind at No. 74.
Here’s a gut punch: retail buy-hold-sell recommendations. The report lists 20 markets and Oklahoma City is 19th, with just 6% of survey respondents saying “buy,” 50% saying “hold,” and 44% saying “sell.” Just ahead is Omaha, Nebraska (8% buy, 50% hold, 42% sell), and just behind is Madison, Wisconsin (zero buy, 83% hold, 17% sell).
(Story continued below…)