This chart below goes a long way in demonstrating what Mr. Goade's above statement:
July 28, 2009
The Lag of Commercial Real Estate
"Historically, commercial real estate has been a lagging indicator of economic activity by six to nine months. The process generally starts with job layoffs, often continues with office space reduction, and finally leads to disposition (through subleasing, lease expiration, or sale)." - Bill Goade - President and CEO of Cresa Partners.
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