Oregon Commercial Real Estate Slow Down Begins
From the DJC:
The region’s real estate markets have taken an across-the-board dip in the first quarter of 2008, according to the latest quarterly findings. A report issued by Morris, Beggs & Simpson shows aflattening of the office market and a steep upswing in central city industrial and retail vacancy rates.National concerns about the economy keep industry sights toward the future more than the present, brokers profess.Fears of, and debates over, whether the country has slipped into a recession have createda “hurry up and wait” environment for brokers, says Jennifer Medak, a vice president at Norris, Beggs & Simpson.The vacancy rate for Portland’s central-city office market remains flat from where it was last quarter, at about 10 percent, but has dropped two percentage points from where it was last year.The local numbers, though in no way a harbinger of market collapse, are indicative of a slowing economy and tightening lending standards […]
Original post by Clint8200
