Posted To: MND NewsWire
The Mortgage Bankers Associates (MBA) notes that, while some economists may have declared that the recession technically ended with the third quarter, its effects are still plaguing the real estate industry. The Association's Quarterly Databook for the period ended September 30 shows that the commercial real estate market has yet to show many signs of recovery from the downturn. The report states that vacancy rates rose during the third quarter for all major property types, with office and retail properties showing the greatest impact. Retail vacancies rose from 12.9 percent to 18.6 percent during the quarter while office vacancies increased 3.4 points to a 19.5 percent rate. Industrial properties increased from 9.8 percent to 13.0 percent while apartment vacancies rose from 6.5 percent…(read more)
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