Lockhart: Commercial real estate key in '09

Atlanta Business Chronicle

The Southeast’s on-going commercial real estate downturn, following the housing market’s collapse, is Federal Reserve Bank of Atlanta president Dennis Lockhart’s key economic worry for 2009.

Lockhart spoke Thursday at Kennesaw State University’s first Southeastern Economic Insights Forum, along with RBC Bank Chief Economist Craig Wright and Donald Sabbarese, director of the university’s Econometric Center.

His prepared remarks followed a similar speech in Miami yesterday , where he predicted a weakening economy through the first half of this year and the economy bottoming out through the second half of 2009.

Wright and Sabbarese echoed Lockhart’s assessment of the economy. Each also said the economy’s recovery would be a slow and gradual.