(Source: LA Times) – Modest growth in the occupancy of commercial buildings such as offices, warehouses, shopping centers and apartments was predicted by the National Assn. of Realtors.
The trade group said the country’s commercial real estate vacancy rates were generally flat and moderated its earlier projections for improvement because economic growth and job creation have been weaker that expected.
“Disappointing economic growth in recent months means a slower recovery for most of the commercial real estate sectors, although multifamily housing continues to benefit from pent-up demand resulting from an abnormal slowdown in household formation in recent years,” said Lawrence Yun, the association’s chief economist.
Source: LA Times
August 25, 2011 | 12:19 pm
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