Survey: No commercial property rebound in U.S. before 2012

09/15/2009 | Bloomberg

The next upturn in the U.S. commercial property market probably won't arrive until 2012, and until then, office landlords are going to face some pretty tough times, according to the quarterly PricewaterhouseCoopers Korpacz Real Estate Investor Survey. Office rents in New York, San Francisco and most suburban markets might fall 20%, the survey found. "The biggest problem is that commercial real estate lags what happens in the economy," said Susan Smith, director of PricewaterhouseCoopers' real estate advisory service.

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