Fed's Beige Book Reports Soft Commercial Loan Activity
WASHINGTON -- Certain cities reported a softened commercial real estate landscape while others experienced modest or stalled activity, according to the Federal Reserve Board's Beige Book, which was released yesterday.
By Michelle A. Samaad |
Updated on June 12, 2008
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WASHINGTON — Certain cities reported a softened commercial real estate landscape while others experienced modest or stalled activity, according to the Federal Reserve Board’s Beige Book, which was released yesterday.
Commercial real estate conditions varied in April and May, with some districts reporting that activity had softened, according to data reported by the 12 Federal Reserve districts. Leasing activity eased in Boston, New York, Philadelphia, Richmond, and San Francisco. Minneapolis, however, reported that market activity was up modestly, while activity was mixed across the St. Louis district, the Fed reported. Vacancy rates edged higher in Boston, Kansas City and San Francisco, as well as in pockets of the Richmond and St. Louis districts.
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