Excerpt. © Reprinted by permission. All rights reserved.
With the exception of cash transactions, investment activity in commercial real estate sectors is nearly at a standstill, because commercial lending has essentially halted while job losses are curtailing the demand for space, according to the Chicago-based National Association of Realtors[R] (NAR). Although access to residential mortgages has improved, the opposite is true for commercial loans, and there are "serious structural problems" in commercial lending, explained NAR Chief Economist Lawrence Yun.