Monday, September 07, 2009
Unhealthy US Commercial Real Estate
Wow, those green shoots are really sprouting.
The US National Association of Realtors has the following forecast:
“We now expect office vacancy rates to rise very sharply, surpassing 20 percent in 2010. Office rents will fall 7 percent in 2009 and further fall an additional 1 percent in 2010. Industrial and retail sectors will face deteriorating conditions as well. Only the multifamily sector looks to squeeze out positive rent growth, though at a slower rate of increase than in the past.”