Will commercial real estate be the next shoe to drop in the ongoing U.S. financial crisis? While most eyes are on the continuing residential real estate disaster, the reality is that the state of the commercial real estate market in America could soon be even worse. Very few financial pundits are talking about this looming disaster but they should be. The truth is that U.S. commercial property values are down approximately 40 percent since the peak in 2007 and currently approximately 18 percent of all office space in the United States is now sitting vacant. That qualifies as a complete and total mess, but the reality is that the commercial real estate crisis is just starting.
In fact, the commercial real estate market is likely to get a whole lot worse. It is being projected that the largest commercial real estate loan losses will be experienced in 2011 and the years following.
Does that look like things are getting better to you?
clipped from theeconomiccollapseblog.com
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