Report: CRE won't bounce back until 2011

10/22/2008 | Financial Week

Commercial real estate won't begin to recover until 2011, according to a report released Tuesday by the Urban Land Institute and PricewaterhouseCoopers. The report's authors expect the sector to hit bottom next year and flounder in 2010 before showing signs of an upswing. "Commercial real estate has only just begun to correct; it's way behind everything else," Jonathan Miller, a partner at real estate consultancy Miller Ryan, said.

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