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Actually falling -- -- a call will make a commercial affiliates joins me now this is fascinating.
In particular with regards to office space we're seeing a big change now in -- fact that vacancy rates across the country.
For retail space are going now.
All the sectors are going down -- all across the board first quarter numbers and office retail multifamily and industrial -- roll.
Going down so supplies gradually decreasing demand is gradually increasing and that's a good sign for the overall commercial real estate sector.
And the rats are going up so those that are actually running these properties -- his properties.
Are making money and and we as investors can make money as well written like rates and.
Rents are stabilizing you have to -- sector by sector so you have office sector in certain markets -- -- rents.
At least stabilizing again with supplies gradually decreasing and demand increasing -- on new construction but you really need to take it.
On a market by market basis.
It in serving our 200 offices across United States for -- banker commercial we are seeing that general trend over.
Up 3000 professionals working throughout north America's highest and -- you're surveying them.
Let's talk a multifamily vacancy rates that's right down the biggest surprise in the biggest jump in fact investors have been looking at that because you're seeing that younger generation.
Go into apartment living and that is where the money's being made for the developers cracked yeah.
Yes well the the multifamily sector is at four point 9% vacancy rate down from five point two.
It's the third lowest vacancy -- the list.
Thirty years that we're seeing overall.
And so therefore are gonna see new supply coming on -- toward the end of 2012.
And into 2013.
Some of this -- -- demographically driven we have the echo boomers.
That are starting to move out of their homes into -- rental units and then ultimately into buying houses and going up the traditional chain that we.
-- -- sure I'm happy that using these kids are getting out of the house but also investors are happy.
-- and a Nikkei obviously -- reits are common -- but there's some very generic -- out there that have been performing as a sector in this is your business I mean you're on the front lines you're gonna do you like -- overalls and -- general -- I like commercial real estate as an investment alternative overall and -- -- big part of it and if you have just like anyone in diversification in your portfolio stocks bonds commodities.
Commercial real estate should be a part of it and reits are -- great way to get into the investment.
-- regional because you know you were saying that it's California it's Florida it's Phoenix that the worst.
-- you -- the first markets out there are now the best opportunities out there so we really have seen up apple -- It it isn't regional in the sense those markets are well -- in terms of distress they've been through overall price you have to look at the overall marketplace it was.
Those markets in terms of distressed assets and buying opportunities are there.
But you still need to look at a lot of other markets such as used in Texas our office there.
Where the energy sectors driving a lot of demand there Fargo, North Dakota we have an office -- doing phenomenal as a result of that.
Western Pennsylvania so you really have to look at -- product by product market by market and in.
Ferret -- the opportunity what.
You know again this is regional Begin employment story mean that this is demand driven I mean this is this is apartments this retail space -- demand driven that tells me the economy is better.
And it may be jobs are being created and.
-- each point on the commercial side going into this downturn this was a demand driven downturn vs a supply driven downturn.
We want overbuilt we did not prospective development so there's a lot more discipline in the markets and consequently it makes for good investment opportunity.
Seven at a tender realtors commercial real estate realtors that used surveyed and have been Ayers is if we surveyed actually said yes deals have been close its greatness right.
Freshman thank you very much from call -- gonna have -- show.