Vacant Office Space Hits 17-Year High

Why is commercial real estate struggling to recover? Because so much of it is vacant, of course. In fact, a new report by Reis Inc. says that office vacancies have hit a 17-year high. Rents are also falling. Here's Bloomberg with your silver lining:

"Although occupancy continues to deteriorate, the rate of decline has clearly slowed," said Ryan Severino, economist at Reis, in the firm's report. Rents may turn positive later this year if the economy stabilizes, he said.

Read the full story at Bloomberg.