The world has changed, and the use of commercial space is changing.
Stay away.
Residential will do just fine.
Everybody needs a home, whether they rent or buy.
Maybe it's time to buy an S&L - again.
* * * * * J B K * * * * *
San Francisco
April 1 (Bloomberg) -- Construction spending in the U.S. fell in February to the lowest level in more than seven years, signaling this part of the economy remains in a recession.
The 1.3 percent decrease to $846.2 billion, the lowest since November 2002, followed a revised 1.4 percent drop in January that was more than twice as large as previously estimated, Commerce Department figures showed today in Washington.
Housing will be slow to rebound as foreclosures climb and Americans are uncertain about job prospects. At the same time, commercial and government building are also slumping, restrained by a lack of credit and swelling budget deficits.
http://www.bloomberg.com/apps/news?pid=20601068&sid=aK4orcqqi590
