NYC Commercial Real Estate

We have been hearing allot about the residential real estate market lately but what is going on with Commercial Real Estate.  Well the opinions that are flotating around range from the scary to the slightly pessimistic.  One thing is for sure, there is not much optimism for the commercial real estate market recovert.  If you have any doubt take a look around your neighborhood.  How many retail vacancies do you see? How many office space available signs do you see? I am sure you see the same thing I do when I am driving around Rego Park , Forest Hills , or Manhattan . Well if the proliferation of vacancy signs doesn't get you thinking, then you should listen to what worries congress.  The folks up on capitol hill are worried that the shaky $6.7 Trillion commercial real estate market could implode. Paul Kanjorski Democrat said “The growing bubble in the commercial real estate industry has the potential to infect our economy and slow a recovery,”.  Now you see the politicians are screaming outloud before all hell breaks loose.  Or maybe they are just covering themselves if all hell breaks loose.  You see there are allot of investors and players sitting on the side lines with tons of cash and they are just waiting for the bottom to fall out.  Will there be a FIRE Sale that is the Question.