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Commercial Property Struggles Despite Red-Hot Housing Market

While the U.S. housing market is booming, commercial real estate properties continue to languish due to the impact of COVID-19. So reports CNN Business.

Derek Hamilton, global economist at Ivy Investments, said demand for offices, shopping malls and other commercial real estate will probably decline thanks to remote work and online shopping.

Fernando De Leon, managing partner at Leon Capital Group, said that some sub-categories of commercial real estate, such as e-commerce warehousing and self-storage, are holding up well.

Michael DeGiorgio, founder and CEO of CREXi, said that pharmacies, grocery stores and restaurants with strong takeout and delivery services are especially hanging in there.

Read the full article from CNN Business.

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