All Signs Point to Commercial Real Estate Bust

Last Updated Sep 23, 2009 2:36 PM EDT

A Barclays Capital analyst said in a Sept. 18 research note that commercial real estate prices have "bottomed," citing optimistic assessments by some of the investment bank's financial customers.

Wrong. Some pertinent data points:

If bankers want to spin shareholders by affecting nonchalance about what's happening here, that's their business. But the indicators are clear and overwhelming: There's going to be a reckoning in commercial real estate. The question is how big, how long it will last, and what impact it will have on lenders, businesses, investors and the broader economy.

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