25.06.2009 - US: Moody’s Index puts commercial real estate at 2004 levels
From WSJ: The Moody’s/REAL National All Property Type Aggregate Index is out today and finds that the value of offices, apartments, hotels, warehouses and malls have dropped to September 2004 levels. “There’s all this talk of green chutes, people saying the second order of employment data is positive,” said Neal Elkin, president of Real Estate Analytics, LLC, one of the study’s two sponsors. “We’re in a situation now where our second order of returns [for real estate] is sharply negative. That’s a little intimidating.”......Full Article (Subscription Required): Source