Time for More Reflection, Too Soon for an Inflection (Financial VIEWS‪)‬

Commentary Now that the economy is beginning to show some signs of a recovery, some are proclaiming that the turning point is imminent for the commercial market. These claims begin by citing improvements in the national and global economies (with the exception of Greece) and then extend that optimism to the commercial real estate market. On that front, claims are bolstered by stories about increasing transaction activity, aggressive bidding on properties, and increasing capital flows to real estate. There also has been a resurgence in commercial mortgage-backed securities (CMBS) land, stabilization in fundamentals, a decline in write-downs, and an increase in attendance at trade shows.