It’s one year ago to the day since the Lehman Brothers collapse that rocked the financial world and, subsequently, the real estate market. Yet some sectors of the industry — commercial, in particular, still struggle — and experts even question whether a new, commercial real estate market-driven collapse is on its way. In the days after the global financial services group’s bankruptcy, market experts were scrambling to predict just how severe the collapse would be. Ultimately, Sept. 14, 2008, ushered in the worst economic crisis the U.S. had seen since World War II. And the New York City residential and commercial real estate markets were not immune. [more]
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