When do you know that a CRE market in a slump has hit bottom? Here's the answer you get from Steven Jason, managing principal of EOS Real Estate and Financial Advisory: "The simple answer is nobody knows, and you don't know until you're past it and can see it in hindsight," he tells GlobeSt.com.

In that sense it's like a recession, something only recognized after the fact. But there are indicators that, if not at bottom, maybe markets that have been sliding for a long time are at least getting close.

Over on LinkedIn, Jason put together a list of some practical indicators, including BlackRock Real Estate Research's statement that now is the time to invest in CRE; SL Green Realty's announcement of a $1 billion opportunity debt vehicle targeting New York City; RXR and Ares Management's formation of a $1 billion fund to buy distressed office assets in New York City; Ethan Penner and Chad Carpenter's newly-launched REIT that is raising $1 billion to fund debt solutions for office owners and investors; a new Goldman Sachs $2.6 billion fund for CRE lending; and MSCI estimating the existence of $85.8 billion in existing property-level distress.