And now, more bad news
Some experts are predicting a new housing crisis as oversold office buildings and retail properties begin going into foreclosure.
U.S. News & World Report compiled a list of 10 cities that are most likely to face the crisis, along with projected 2010 commercial vacancy rates for each city. The cities were ranked according to the increase in projected vacancy rates over 2008 rates.
The entire article is available at www.usnews.com.
|10 cities facing the commercial real estate bust|
|1. Las Vegas||18.1%||6.8|
|4. San Bernardino/Riverside, Calif.||15.9%||6.3|
|5. Hartford, Conn.||20.2%||6|
|6. Dayton, Ohio||22.8%||5.9|
|7. New York||12%||5.9|
|8. Charleston, S.C.||16.6%||5.8|
|9. Tacoma, Wash.||13.6%||5.8|
|10. New Haven, Conn.||17.2%||5.8|