Credit issues slowing recovery, execs say
Availability of credit and the volume of distressed properties on the market continue to put a damper on the real estate recovery, according to a survey of 200 real estate executives by Akerman & Co, a national commercial real estate company. The report found that:
* 79 percent of respondents said availability of credit and other financing challenges was the most pressing issue facing the industry.
* 65 percent believe that large inventories of lender-owned properties are preventing a recovery in the commercial real estate industry.
* 44 percent said inventories of distressed properties and their effect on pricing was the second most pressing issue.
* 54 percent believe residential is the real estate sector best positioned for a recovery.
* 20 percent said the industrial sector is best positioned.
Source: Akerman Senterfitt (04/05/2010)