If you get into single-digit vacancy rates, generally speaking, you see speculative development activity coming back. And it is coming back, but it`s coming back slowly.
I would predict that there will be several markets in 2006 that will reach all-time highs: almost all of southern California, Washington, D.C., and midtown New York.
You can stomp your foot to it. You can dance. It`s fun, it`s fun music everybody can relate to it somehow.
