U.S. CRE Falls to Lowest in 7 Years

I spy empty office buildings
Image by jeffwilcox via Flickr

Bloomberg.com reports:

Dec. 21 Bloomberg — Commercial property values in the U.S. declined in October to the lowest level in more than seven years as unemployment reduced demand for apartments, offices and retail space.

The Moody’s/REAL Commercial Property Price Indices fell 1.5 percent in October from September to the lowest since August 2002. Prices were down 36 percent from a year earlier and are 44 percent below the peak in October 2007, Moody’s Investors Service Inc. said in a statement.

Read the rest at: U.S. Commercial Property Falls to Lowest in 7 Years Update3 – Bloomberg.com.

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