Office investment as a percent of GDP peaked at 0.46% in Q1 2008 and then declined sharply. Investment as a percent of GDP fell to a new low in Q1 and is now down 64% from the peak.Click on the link above to see graphs that correspond with the above statistics.
Investment in multimerchandise shopping structures (malls) peaked in 2007 and is down about 68% from the peak and at a new low in Q1 (note that investment includes remodels, so this will not fall to zero).
Lodging investment peaked at 0.32% of GDP in Q2 2008 and has fallen by about 82%.
Notice that investment for all three categories typically falls for a year or two after the end of a recession, and then usually recovers very slowly (flat as a percent of GDP for 2 or 3 years). This is happening again, and there will not be a recovery in these categories until the vacancy rates fall significantly.
Monday, April 30, 2012
Interesting Real Estate Stats
Here are some sobering statistics from the indispensable economics blog Calculated Risk.
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2 comments:
People just don't have the funds and four years later, are things really better than 08-09??
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