Commercial Real Estate Major Factor In Economy
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While all the media and pundits spend their waking moments dissecting the residential real estate market, the commercial market continues to grow and play a major part of the economy. The commercial real estate market contributes over 500 billion to the gross national product on an annual basis.
The growth in commercial development has also kept the real estate sector from imploding as many of those working in it have shifted their focus from residential to commercial. Commercial real estate employed over 4.2 million in 2005, and pundits are not expecting a slowdown in the coming future.
“This is a bigger industry than is perceived by government officials and the general public,” said study author Stephen Fuller, director of the Center for Regional Analysis at George Mason University. “It surprised me.”
Actual construction accounted for only $266 billion of commercial real estate spending. Soft costs — such as architects, engineers, site development and tenant improvements — and building operations accounted for the remainder of the spending.
The study found that commercial real estate supported 4.2 million jobs in 2005. via Business First of Buffalo
Very funny comparison. However you don't need to pay property tax on Barbies 3 Story Dream House. With the unemployment ...
My wife has actually decided to study for and get her real eatate licence just so we dont ever have ...
I like your analogy in this article. The real estate economy really is like a patient who you cannot ...
Real Estate is hyper-local. Every market is different. Phoenix has already hit bottom and is starting to recover. We have ...
Great to hear that the big boys
are predicting recovery sooner than
most think.
Thanks for the value! 
I agree--good analogy. You have to crawl before you can walk. Right now, at least in Austin, many people would ...
I live in the Philippines and I am glad we are not on the lists... 
I have a few Litograghs of Presidents homes , made by Richard V. Sebring. yr. 1990 Do they have any ...
Comment by Patrick West on 10 June 2007:
Excellent article! Commercial Real Estate is probably the largest over-looked industry in the U.S. Even the main stream media completely ignores it. Maybe that’s why it has stable profits and is less speculative than residential real estate.