Picking Through The Debris Very Carefully

The slow-motion train wreck that is real estate continues. The bold plays of the 1980s--when home prices and office rentals spurted higher every year--are just haunting memories. The outlook now is a continuation of the disaster in commercial properties counterbalanced by an extremely modest comeback for housing (chart). But there are a variety mf ways to make or at least save money amid the debris in 1992. While few will make a killing in the residential market, easing mortgage interest rates and a slow recovery in the economy will produce opportunities. And even the commercial sector, whose overcapacity woes will linger for years, has some bright spots to exploit.

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