Jan
05

Forecast: Local, National Commercial Real Estate Will Decline More Slowly In 2010

By
– Columbia Regional Business Report

In 2010, commercial real estate will decline more slowly than in 2009, with most property types reaching bottom near the end of the year and beginning a slow recovery starting in 2011, according to Grubb & Ellis Co.’s 2010 Real Estate Forecast.

“The national economy has begun a slow and cautious recovery, but the labor market, which often lags the broader economy, will turn around only gradually, with sustained improvement unlikely before the second half of 2010. Because commercial real estate lags the labor market, it still has a ways to go before reaching its own low point,” said Bob Bach, senior vice president and chief economist of Grubb & Ellis.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.columbiabusinessreport.com/news/32326-forecast-local-national-commercial-real-estate-will-decline-more-slowly-in-2010?rss=0
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