In case you're not yet numbed to bad economic news, here's some more.
RCA Analytics has released its latest global trends report, and it concludes that global investment sales are--suprise, surprise!--tanking:
"Sales of significant commercial properties worldwide totaled $388b (€254b) through August, representing a 57% decrease compared to same period in 2007."
Nice! Even better, "The pace of transactions continues to slow and preliminary data for Q3’08 shows an even steeper decline of 64% from Q3’07."
Here are some of the report's other conclusions:
First, we should expect a lot more properties to come on the market, either through distressed sales, or companies looking to shore up their balance sheets:
"The failure of Lehman Brothers and the government bailout of AIG may bring a multi-billion dollar flood of new offerings to the market. read more »