Vacancy rates in office buildings exceed 10 percent in virtually every major city in the country and are rising rapidly, a sign of economic distress
that could lead to yet another wave of problems for troubled lenders.
Related Links:
rVACANT06 Securitized commercial loan delinquencies | Graphics
With job cuts rampant and businesses retrenching, more empty space is expected from New York to Chicago to Los Angeles in the coming year. Rental
income would then decline, and property values would slide further. The Urban Land Institute predicts 2009 will be the worst year for the commercial
real estate market "since the wrenching 1991-1992 industry depression."
www.heraldtribune.com...
I get the feeling that this will get alot worse before it gets better. Will we ever reach previous levels or is this a trend that wont be turned
around?
|
