JRD Real Estate Outlook Poll 2

1. Background Information

We are going through some challenging times which makes it extremely difficult to develop a reliable outlook for the commercial real estate markets. The following questions are designed to tap into your knowledge to help us get a reading on the outlook for the economy and commercial real estate market. When you submit, you will see how your answers compare to other responses.

1. Please use the drop-down menus to indicate when you think national economy, housing market and commercial real estate markets will bottom out.

	Economy	Housing Market	Commercial RE Market
National Market	Please use the drop-down menus to indicate when you think national economy, housing market and commercial real estate markets will bottom out. National Market Economy	Housing Market	Commercial RE Market

2. Please indicate where you think direct capitalization rates (for in-place net operating income) are for the following types of commercial real estate assets at the national level for the respective time periods.

	Current	12 months out	3 years from now
Institutional Grade Assets	Please indicate where you think direct capitalization rates (for in-place net operating income) are for the following types of commercial real estate assets at the national level for the respective time periods. Institutional Grade Assets Current	12 months out	3 years from now
Distressed/Troubled Assets	Distressed/Troubled Assets Current	12 months out	3 years from now

3. Where do you think cap rates are in today and where they will be in a year for the following property types?

	Current Cap Rates	Fall 2012
Office	Where do you think cap rates are in today and where they will be in a year for the following property types? Office Current Cap Rates	Fall 2012
Retail	Retail Current Cap Rates	Fall 2012
Industrial	Industrial Current Cap Rates	Fall 2012
Apartments	Apartments Current Cap Rates	Fall 2012
Mixed-use	Mixed-use Current Cap Rates	Fall 2012

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