Survey: Office properties face major crash in US

Better options: Commuters seen in New York’s Grand Central Terminal. Some of the resistance to the return to offices can be attributed to commuting pains – more than 40% of respondents say they would come back if they had better public transport. — AP

NEW YORK: Office prices in the United States are due for a crash, and the commercial real estate market faces at least another nine months of declines.

That is according to Bloomberg’s latest Markets Live (MLIV) Pulse survey, which said about two-thirds of the 919 respondents surveyed believed that the US office market would only rebound after a severe collapse.