Rolfe Winkler– who is always worth reading – has created a stunning graph showing how fast commercial real estate is declining:
(click here for Rolfe’s full graph). The red line is residential real estate, and the blue is commercial.
Note how much more quickly the commercial market has been crashing. As Rolfe points out, since October 2007, commercial is down 35%. Residential is down 33% since its peak, but the decline started more than a year earlier – in July 2006 .
Commercial real estate is down 28% since September 2008.