Commercial Real Estate Face Worst Crisis

March 28, 2009
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The real estate crisis is far from over and commercial real estate may just be in for a crisis worst than that of the property bust in the 1990s. The worsening crisis in the commercial real estate sector can already be felt with the increasing loan delinquency rates for retail, offices, hotels and even industrial buildings. And since the fate of the commercial real estate market is closely tied to employment, the increasing unemployment rate which was pegged at 1.8% in February will most likely bury the sector deeper than expected.

Several years ago, problems related to the commercial real estate industry led to the recession. This time though, it’s a…

Entrepreneurs Urged To Take Advantage Of Reduced Office Rents

January 14, 2009
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Entrepreneurs may be feeling the economic pinch but they can still lower their costs by taking advantage of the reduced office rents even in New York locations. Business in New York has slowed down and landlords have no other choice but to lower down the rents in the face of an increasing number of empty office spaces.

New York real estate research firm Reis Inc said the rental for office space in the state went down by 1.2% during the last quarter of 2008 when taking into account free rents and other landlord concessions. This is considered the largest reduction since 2003 and after the 10.6% rise in rentals last 2007.

The…