Guardian Solutions
Despite the fragile progress made in the residential property market, real estate experts continue to predict a steep decline in the commercial real estate market.
“The last several years have seen liberal lending in the commercial market,” said Thomas Bible, Broker for VIP Executive Realty in Florida. “Though not as pervasive or severe as in the residential market, this reckless lending is possibly more threatening to our economy.”
Predictions for the commercial real estate market (which includes shopping centers, strip malls, apartment buildings, office buildings and warehouses) appear universally bleak.
The “Emerging Trends in Real Estate 2010″ report issued by the Urban Land Institute and PricewaterhouseCoopers acknowledges that most investors will recognize massive losses in the commercial real estate market. Value declines will eventually total 40 to 50 percent off market highs. This will likely be the worst registered since the Great Depression.
Real estate professionals prepare clients for commercial property collapse
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