by Bill McBride on 1/06/2010 12:04:00 AM
Note on McAfee: For some users, McAfee incorrectly flagged CR. I've spoken to McAfee, and hopefully this is resolved. You can check Google's site evaluation here.
Wednesday, January 06, 2010
Click on graph for larger image in new window.
From Reuters: US shopping center vacancies hit records - report
Strip malls ... had a vacancy rate of 10.6 percent in the fourth quarter, surpassing the high set in 1991, Reis economist Ryan Severino said in a report released on Wednesday.This is up from 10.3% in Q3 2009 and 8.9% in Q4 2008.
The vacancy rate at large regional malls rose to 8.8 percent from 8.6 percent the third quarter.The 8.8% is the highest since Reis began tracking regional malls in 2000.
"Our outlook for retail properties as a whole is bleak," Severino said in a statement. "... we do not foresee a recovery in the retail sector until late 2012 at the earliest.""Late 2012 at the earliest" ... ouch!
Posted by Bill McBride on 1/06/2010 12:04:00 AM