A real estate recovery will be difficult without job creation, and Illinois entered the recent economic downturn with one distinct disadvantage: It never really recovered from the last recession.
So says Geoffrey Hewings, director of the University of Illinois’ Regional Economics Applications Laboratory, who was the first guest to take the mic at Thursday’s 2010 Economic Forecast panel hosted by the Chicago Association of Realtors. The presentation, moderated by WBBM‘s Ron Gleason, also featured Inland Real Estate Group Vice President Joe Cosenza, Hanley Wood Market Intelligence Regional Manager Michael Hart, and Appraisal Research Counselors Vice President Gail Lissner, all of whom gave Realtors updates on the state of the residential, commercial, and industrial real estate markets in the Chicago metro area.