Property Values Start Climbing Out Of Their Black Hole

For the past couple of years, real estate has been the very definition of a lousy investment. Home sales sank, and prices did, too. Commercial vacancies spiraled, and developers went bankrupt. Yet the pervasive gloom seems to be abating. Housing is inching back, helped by the overdue economic recovery and low mortgage rates. Hopes are gathering that even the moribund commercial sector may begin a gradual revival within a couple of years.

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