by Calculated Risk on 6/16/2008 09:47:00 PM

From McGraw-Hill via MarketWatch: 2008 Construction Starts Estimated at $558.5 Billion, Down 11%, McGraw-Hill Construction Reports

On Commercial Real Estate (CRE):

[T]he slower economy and tighter lending conditions are now causing [CRE] projects to be deferred, and the loss of momentum will take firmer hold as the year proceeds. For 2008, commercial building will retreat 8% in dollar volume and 16% in square feet. Stores and warehouses are the most vulnerable to decline in the near term, while lesser reductions are anticipated for hotels and office buildings.

This is similar to the recent CRE forecast from Wachovia.