Wall Street Journal (10/01/08) P. C14; Karp, Jonathan; Wei, Lingling; Hudson, Kris
Thanks to the mortgage and credit crises, there has been a decline in prospective hiring in the commercial real estate sector during the last couple of months. According to a new study by Cornell University and Select Leaders, Texas has been among the few bright spots. The state now offers nearly as many property-job opportunities as New York--a 10-percent national share--but receives only 3 percent of all applicants. California remains the leader, with nearly 18 percent of all commercial real-estate job listings. The second annual Job Barometer shows continued demand for jobs in the stable multifamily housing sector, but overall it warns that the worst "may yet still be ahead" as property firms face everything from layoffs to hiring freezes.
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