CRE Plummeting: MIT Center for RE Q2 ‘09 Results
By: Myles, August 7th, 2009
YEP … It is official: Commercial real estate (CRE) markets are now down into a severe and historic recessionary decline. Earlier this week the MIT Center for Real Estate released their Q2 2009 read on the nation’s commercial property market showing a stunning:
- All commercial structures (as an aggregate PRICE): Down 32.07% year-over-year decline !!!
- Decline of 36.33% in DEMAND.
- Worse yet, on a peak basis CRE prices have declined a staggering 39.16%.
- Apartment property prices declined 28.81%,
- Industrial property prices declined 41.15%,
- Office property prices declined 33.39% and
- Retail property prices declined 26.01%
A pictures worth not only a thousand words. As such, these charts illustrate the staggering drop in CRE ……
Tags: commerial real estate, Q2 2009
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