Monday, December 21, 2009

Versus Plus On The Economy - Oh CRE!

for more like the above,  see Versus Plus On The Economy


  1. here's the serious end of this story: U.S. Commercial Property Falls to Lowest in 7 Years - (Bloomberg) -- Commercial property values in the U.S. declined in October to the lowest level in more than seven years as unemployment reduced demand for apartments, offices and retail space. The Moody’s/REAL Commercial Property Price Indices fell 1.5 percent in October from September to the lowest since August 2002. Prices were down 36 percent from a year earlier and are 44 percent below the peak in October 2007, Moody’s Investors Service Inc. said in a statement. Values are dropping as U.S. unemployment climbs and consumers cut spending. Office vacancies may approach 20 percent next year as employers hold off hiring.

  2. bad news: krugman just discovered the CRE bubble...wonder how many other influencial wonks are clueless?