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Wall Street Tumult Casts Pall on Commercial Manhattan Real Estate

Started by type3secretion
almost 18 years ago
Posts: 281
Member since: Jun 2008
Discussion about
http://www.nytimes.com/2008/10/01/business/01real.html?ref=business "These days, however, confidence and optimism have given way to fear, uncertainty and gloom. Wall Street is expected to shrink significantly, and the market for commercial real estate has ground to a virtual standstill (though many investors are hopeful of profiting handsomely by choosing the right time to get back in). “The speed at which this has flip-flopped has been stunning,” said Mike Kirby, a principal of Green Street Advisors, a Newport Beach, Calif., research company that analyzes real estate investment trusts."
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