Survey: U.S. CRE Seen as Overvalued

Nearly 60% of real estate professionals surveyed believe that commercial property in the United States is overvalued, according to a survey by international law firm Bryan Cave LLP. The survey found that 59% of the executives polled believe commercial properties are overvalued and only 4% believe they are undervalued. Barry C. Ross, a partner at Bryan Cave, said 91% of the respondents "believe the credit crunch will continue to reduce capital for commercial real estate financings for at least seven more months." The fifth annual Bryan Cave Real Estate Executives' Forecast Survey was conducted among more than 300 commercial real estate professionals, including brokers, lenders, title insurers, and mortgage bankers. Bryan Cave can be found online at http://www.bryancave.com.