`It Will Be A Bottoming Out Year'

Real estate will be a mess again this year, with only one halfway positive development: There will be an anemic housing recovery. But in the commercial sector, business will be at least as bad as it has been the past two years. Thus, "the best you can say for 1992 is that it will be a bottoming-out year," says James J. Gorman, executive vice-president for the Real Estate Research Corp. in Chicago. "No recovery will be in view until at least 1993 or 1994."

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