Commercial real estate in SC shows signs of life


As commercial real estate climbs out of the Great Recession, at least one broker said it could have been worse: It could have been the late 1980s.

Chuck Salley, principal of Colliers International in Columbia, specializes in industrial space and has been in commercial real estate for 30 years.

“This recession wasn’t as bad as the one in 1987,” Salley said.

Banking deregulation in 1980 led to speculative loans for commercial real estate; lax lending destroyed the bank insurance system and wiped out savings and loans firms; and it took years for commercial property values to recover, Salley said. This time, the meltdown’s core was residential. Commercial real estate sagged, but not as dramatically as it did 25 years ago.


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    Categories : South Carolina News

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