The Mortgage Bankers Association (MBA) first quarter Commercial Real Estate/Multifamily Finance Quarterly Data Book released yesterday reported diminished demand for commercial real estate, although negative conditions for the sector are waning.

Jamie Woodwell, MBA’s vice president of commercial research who oversees the study, said what’s happening is “a severe recession, which has a clear impact on commercial real estate. A decrease in GDP and job losses lead to a decrease in demand for the commercial real estate base.”

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