Credit Crunch Hits One-Year Mark

NEW YORK-One year after the troubles began in the US capital markets and the nation’s economy, one report on the impact of those woes on the office market sees investor confusion rife with contradictory signals. Another report echoes similar sentiments, but throws in the effect from earlier sales like Equity Office Properties.

Robert White, president of New York City-based Real Capital Analytics, has released his analysis of the unofficial anniversary of the credit crisis. Likewise, so have CB Richard Ellis Capital Markets and Torto Wheaton Research. The two reports share many of the same observations and conclusions.

White points out that his company’s latest sales figures show that the office sector “has fared better with transaction activity starting to grow and prices not down as much as for other property types.” Overall, however, he observes that “one year after the onset of the credit crunch, recent sales data paint a picture of continuing investor confusion rife with contradictory signals.”