Month June 2009

Income tax revenue for states drops off cliff

From the Rockefeller Institute comes news of devastating shortfalls in state income tax revenue. In FY 2008, personal income tax revenue made up over 50 percent of total tax collections in six states — Colorado, Connecticut, Massachusetts, New York, Oregon,…

Commercial Real Estate seen falling 35%-40%

Clusterstock Green Street Advisors has put together an excellent deck [slide show] showing the coming mess for commercial real estate. Bottom line: A 35-40% decline in commercial real estate values should be “right.” And that’s if the market doesn’t overshoot.…