Relevant:
- NYC Broker wars have reached a whole new level
- Office Vacancies Soar in New York, a Dire Sign for the City's Recovery
- Manhattan Office Tower Built During Property Slump Gets Its Second Tenant
- Dubai Office Rents Drop in Second Quarter as More Supply Comes on Market
- Occupied Commercial Space Takes a Fall as Tenants Cut Back, Go Out of Business
2016-05-11 — bloomberg.com
Construction work began on 51 office buildings during the period, Deloitte LLP said in a report on Tuesday. About 14 million square feet (1.3 million square meters) of space is now under construction, 28 percent more than the previous six months and the highest since March 2008, according to the report.
"In just 18 months, we have seen activity nearly double," Deloitte said in the report, which it started publishing in 1996. "This is perhaps the first survey in a long time where we are able to point to the pendulum swinging away from landlords and back toward tenants."
This doesn't seem to jibe with the rest of the economy, that's for sure. Soon we may see the pendulum doing something more like "crashing" back towards tenants...
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