Commercial Real Estate Recession To Keep Going

PriceWaterHouseCoopers released its Korpacz survey today. The investors surveyered for the report anticipate that the commercial real estate sector is expected to remain in recession until 2012.

Part of the reason is an expectation that office space demand will remain lax, fueling additional weakness in rents. In major markets such as San Francisco, investors surveyed expected rents to drop by as much as 20%. In other markets, rents were expected to contract by 10%+.

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