I’d say we are in the beginning of a major downturn. I heard of a survey where some 1/3 of small businesses didn’t make rent payments last month. That does not portend well for commercial real estate, which is usually second to fall after residential. Next will be layoffs, then closures and then the real pain will set in.
I’d say we are in the beginning of a major downturn. I heard of a survey where some 1/3 of small businesses didn’t make rent payments last month. That does not portend well for commercial real estate, which is usually second to fall after residential. Next will be layoffs, then closures and then the real pain will set in.