Maybe because it’s good news, the fantastic year for U.S. commercial real estate has gone largely unnoticed in the popular press.
Office buildings, which account for 8 of the year’s 10 biggest real estate deals, represented $105 billion in transaction volume in the first 11 months of 2006, a 31% increase over the same period in 2005.
The “bust” stories about U.S. residential real estate fit the media’s world view much better. If it bleeds, it leads.
As I said in the first post I ever made in this blog, “The media has predicted 10 out of the last 0 real estate bubbles.”