The Real Deal Miami

Jitters create “minefield effect”

October 20, 2008 10:25AM

Peter Linneman, chief economist at commercial real estate firm NAI Global, says current market anxiety and paralysis are the result of the sudden explosion of credit markets, meaning consumers, employers and lenders won’t move for fear of being the next victim. Linneman sees a deep recession over the next two years followed by a convincing recovery.