Commercial real estate sales fell 80 per cent year-over-year in first half ’09 with prices down 21 per cent…banks continue to tighten lending as companies seek cash to refinance loans…more companies missing mortgage payments with 7.9% behind on their mortgage…one in 10 shopping mall stores empty and 16 per cent of offices empty…
(Source: The Globe and Mail)
Now that the U.S. housing market is showing a bit of life, whispers about a crisis in commercial real estate are growing louder. Here are five things that keep analysts up at night (and one thing that makes them feel a bit better):
Read the full article by Steve Ladurantaye, “THERE’S TROUBLE AT THE MALL” in the Globe and Mail (Oct 29, 2009).