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CAROLANTIC ISSUES '92 FORECASTS; GARDNER PROPOSES RECOVERY PLAN

 CAROLANTIC ISSUES '92 FORECASTS; GARDNER PROPOSES RECOVERY PLAN
 RALEIGH, N.C., Feb. 4 /PRNewswire/ -- Appearing before a group of 500 Triangle business people and real estate professionals, Carolantic Realty President Carlton Midyette heralded signs of a recovering economy in the local commercial property market. In a morning briefing held in the Raleigh Civic Center, Midyette observed that "the over-building which took place in the Triangle five to seven years ago is finally working its way out. We're not out of the woods yet, but we can see the clearing."
 Midyette added, "Healthy absorption is coupling with a decline in new construction to slowly bring the market back into balance. Now, all we need to complete the recovery formula is a return to normalcy in the banks -- willingness to make reasonable loans for worthy projects."
 Earlier in the morning, Carolantic's guests heard an address from North Carolina Lt. Governor Jim Gardner. In his speech, Gardner proposed a five-point plan involving tax credits and incentives intended to "jump-start" the state's economy.
 "Now is not the time for partisan rhetoric and political posturing," indicated Gardner. "Now is the time for mended fences and harmonious cooperation. The people of North Carolina have heard enough talk from the politicians. They're looking to us for action."
 Gardner asked the General Assembly to pass these remedies in the short session which will begin in May.
 -0- 2/4/92
 EDITOR'S NOTE: Copies of the Carolantic's Commercial Real Estate Report or the text of the Lt. Governor's speech are available from Carolantic. Contact Kerry Saunders, 919-832-0594.
 /CONTACT: Kerry Saunders of Carolantic, 919-832-0594/ CO: Carolantic Realty ST: North Carolina IN: SU: ECO


CM -- CH009 -- 6853 02/04/92 16:09 EST
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Date:Feb 4, 1992
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