Economics
Property Brokers Falter as Real Estate Boom Seen Cooling
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Commercial-property brokerages, the stars among U.S. real estate stocks this year, are losing luster as the booming market for deals shows signs of cooling.
CBRE Group Inc. and Jones Lang LaSalle Inc., the global titans of property services, slid the most since 2011 on Monday amid a rout in equities, bringing losses this month to 14 percent and 16 percent, respectively. HFF Inc. has tumbled 20 percent in August and Marcus & Millichap Inc. is down 17 percent.