I hate to rain on the parade celebrating signs of the recession's easing, but there's more evidence that the other shoe--commercial real estate--is about to drop.
I point to figures from Foresight Analytics, a real estate market consulting firm. First, recently released data on the second quarter shows that outstanding commercial construction loans--the amount of money being borrowed for construction--contracted by 2.2% from the previous quarter. That's compared to a modest increase of .3% in the first quarter. Foresight predicts that downward trend will continue, thanks to a lack of new construction starts. It also is the first major contraction since 2003.