The President/CEO of CB Richard Ellis a few days ago said that the commercial real estate market “deteriorated on a scale and with a speed that no one could have predicted just a few months ago.” Of course you could have read my posts back when I started this blog in May but what do I know.
CB Richard Ellis: CRE “Conditions have deteriorated” Rapidly – CalculatedRisk – 28 November 08
“Conditions have deteriorated on a scale and with a speed that no one could have predicted just a few months ago. Market conditions of unprecedented strength are roiling the world’s financial markets. The global economy is either in, or close to, recession and 2009 is not likely to be a year of great recovery.”
Brett White, president and chief executive officer of CB Richard Ellis, recent letter to clients, from the LA Times: CB Richard Ellis feels industry’s pain
In perfect symmetry, in May I posted links to CalculateRisk articles warning of the coming deterioration.
0 Responses
Stay in touch with the conversation, subscribe to the RSS feed for comments on this post.