Tough '09 Is Seen for Commercial Real Estate
The Washington Post reports: This year will be among the worst for the U.S. commercial real estate industry, as unemployment leads to a drop of as much as 30 percent in rents in some places and more office towers from Washington to Chicago and Los Angeles sit empty, according to several research reports from large commercial real estate service companies.
Roughly $107 billion worth of hotels, office buildings and shopping centers are in trouble, ranging from mortgage delinquency to foreclosure, according to a report from Real Capital Analytics, a research firm.
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Posted by: Nina Turner