RCA: Troubling Times Ahead for Property Markets
Commercial Property News reports: September usually sets the pace of the investment market through the end of the year, and if this September is any indication, the property markets are in for some troubling times, according to Real Capital Analytics’ Global Capital Trends September/October 2008 report.
“The credit crunch that has been impeding deal flow in the U.S. and Europe is now spreading throughout Asia and erupting into a full-blown financial crisis in the West,” the report indicated. “In the course of the month, some of the largest lenders to the commercial real estate industry have fallen: Lehman, Hypo, Wachovia, Fortis, AIG, HBOS, Merrill Lynch. Their downfall not only leaves a void for those seeking to finance a property, but represents tens of billions of dollars in property and mortgages that must be liquidated. Those assets will join tens of billions of other properties currently for sale by owners that are under increasing financial pressure.”
View the full article on Commercial Property News: RCA: Troubling Times Ahead for Property Markets
Posted by: Nina Turner