The Richmond metro market for commercial office space is improving more rapidly than the residential market according to this article in the Richmond Times-Dispatch. Of course, the vacancy rate for offices is still about double the "frictional rate" of 5%.
For about two years I've been predicting that economic growth will become robust in another year or so. I don't do that anymore. Now I say economic growth will be significant after the mortgage driven housing glut has worked through the market. I make no predictions about when the housing glut may be dealt with.
Showing posts with label office space; housing glut; foreclosure; Richmond VA. Show all posts
Showing posts with label office space; housing glut; foreclosure; Richmond VA. Show all posts
Monday, October 10, 2011
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