At a commercial real estate forum hosted here today by Jones Lang LaSalle, most everyone said this continues to be a “challenging” time for the property business. According to a JLL report rents are down, loans can’t be refinanced and most properties purchased in 2005-07 have no equity left. So it was left to Roger Staubach–the company’s executive chairman, Americas–to give everyone a pep talk. The former Dallas Cowboys QB likened the current climate to the 1971 season, when the ‘Boys sputtered to a 4-3 start because the team hadn’t jelled yet. They were driving Tom Landry crazy, Staubach said, until they suddenly began working together as a team, then proceeded to win 10 games in a row–including the Super Bowl. “When you get the right people in the right places, miracles happen,” Staubach told the crowd of about 300. “Challenges bring out the best in all of us.” He’s right, of course. And it may take a miracle to work through this fix.
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