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UF study emphasizes slump in Florida apartment market
By Times Staff Writer
St. Petersburg Times
Published: Jul 7, 2008

Florida's commercial real estate market has taken a turn for the worse, but it's not nearly as sick as the residential market, the University of Florida's Bergstrom Center for Real Estate Studies reported Monday. "The biggest surprise is how notable the downturn in the state of the apartment market appears to be," center director Wayne Archer said. "It could be that people are trying to save money by doubling up." He said the center's quarterly survey also shows the market has weakened for retail, warehouse and distribution space and other industrial properties. However, Archer said the commercial markets are expected to recover more quickly than residential.



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