Commercial Real Estate Scarring

Here is an article related to some of the commercial real estate (CRE) scarring from the pandemic recession. From the Financial Times: Destruction of value in US real estate revealed by appraisal data . The article suggests some CRE valuations have declined 25% since early this year. We will also see a decline in new CRE construction next year based on the recent architect billings, from the AIA: "Architectural billings in August still show little sign of improvement" And hotel occupancy is down 32% year-over-year , and RevPAR (Revenue per available room) is down over 50% year-over-year. The......(read more)

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