Commercial real estate isn't waiting for the next shoe to drop, because the crisis is already here, said Diana Olick on a recent
panel. Participants discussed the driving forces behind the commercial fallout, including a lack of available credit, rising delinquencies and vacancies, and unemployment. Marisa Manley, president of Commercial Tenants Real Estate Representation, said there are many opportunities for tenants amid the gloomy numbers. Olick said the commercial real estate market is going to take at least two to three years to recover, since it is slower moving than residential real estate.
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Comments
Anonymous
Two to three years is optimistic. Seven or eight years is more likely, as it will take banks at least that long to get the bad loans off their books.
Comment #1 Posted By: Anonymous 11/20/09