As the U.S. economy contracts, widespread job loss — 1.3 million jobs were lost in the first 11 months of 2009 — has taken its toll on consumer spending and demand for industrial space.

On many fronts, early 2010 looks to be an opportune time to return to the commercial real estate market. Price declines are leveling off, and transaction volume has improved slightly.

Heading into the New Year and pondering the oft-
disappointing New Year’s resolution, I’ve been thinking about what the investment world —managers, consultants and institutional investors — could resolve to do differently to avoid these wild swings of the world economic pendulum and the subsequent suffering that accompanies the painful correction of our collective mistakes.