The rental business is being hit hard as people lose jobs, they also lose their ability to pay for their previously lavish condo’s, apartments and homes in and around most metro centers. Office type vacancies can run to almost 10% for some of the worst hit areas but some areas are also seeing some growth. Commercial property owners fight hard to keep existing tenants as they come up with better price deals to entice new ones. Vacant properties are staying vacant, awaiting for the return of the many offices that have since closed as companies stramline operations, closing auxiliary offices, re-assigning staff to major offices cutting on rentals. No swift end to the troubles that plagues the real estates business is yet in sight, but hopes are high for Wall Street seems to be in a sustained mood gaining ground day by day.
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