Commercial Real Estate: "The problems are in all of it"
from Calculated Risk by CalculatedRisk
First a great quote via CNNMoney:
"On the commercial side, best I can tell the problems are in all of it - offices, retail, hotels. I think we will see a prolonged decline."Kermit Baker, chief economist for the American Institute of Architects, CNNMoney May 17, 2008
First off you should know that Calculated Risk is always negative, as a blog they tend to write ten to fifteen negative posts every day. They are rolling around in the possibility of a recessions.
CRE is very local in nature, as was the residential sector. The media may attempt to drive commercial into a recession or slowdown, like they did residential, but it may be too late since residential is already making it's comeback. Sorry Calculated Risk and Kermit ... I think this was last year's news. But it may scare some bankers, who don't seem to have any of their own ideas anymore, and slow down in areas where banks have control.