Real-Estate Markets Still Plumb for Bottom
The Wall Street Journal reports: What began as a bad year for real estate turned into one of the worst on record, driven by an unprecedented drop in home prices, a tide of foreclosures and a credit crisis whose magnitude few anticipated.
It's hard to know how far commercial-property prices have fallen because the lack of credit has made it hard to buy big buildings. In the office market, for instance, only $1 billion of deals on fewer than 50 properties closed across the U.S. in November, according to research firm Real Capital Analytics. That's a 90% drop from November 2007.
View the full article on The Wall Street Journal: Real-Estate Markets Still Plumb for Bottom
Posted by: Nina Turner