(Source: Steve Brown The Dallas Morning News (MCT) — Although the commercial real estate sector has so far escaped the severe downturn that’s hit U.S. housing, industry leaders are fretting that there’s still a lot of hurt ahead in cities across the country.
“There is a lot more to come — a lot of pain,” said Bob Jacobs, chief investment officer of Denver-based commercial property firm Broe Group. “There has been a crash.
“But it’s not as high-profile and political as the single-family home bust,” Jacobs said Thursday at a meeting of the National Association of Real Estate Editors.
Commercial property prices and activity have already started to recover in many U.S. markets, including North Texas. And property values and foreclosures never reached the levels some predicted when the recession hit in 2008.
Read more...Commercial Real Estate Not Out of the Woods Yet | LoanSafe