Real estate, specifically bad loans to the wrong people, is at the root of the financial crisis in the U.S. That burst the speculative bubble, but the same hasn't happened in Canada. Banks were more careful about whom they lent to. Still, the Canadian economy is teetering on the edge of a recession and real estate will suffer, experts agree.
We asked Stan Krawitz, president of Toronto real-estate consulting firm Real Facilities Inc. about the prospects for commercial real estate.
Q: How is commercial real estate faring in these recessionary times? Are real-estate developers able to find financing? If so, where and at what terms? If not, why not?
