The Decline of US Hotel Asset Prices
The economic slowdown of the past year and a half now appears to be gaining momentum and dramatically deepening into what some are labeling as the Great Recession. This downturn appears on its way to being as long--if not longer--than any of the 11 economic slowdowns that have occurred since the 1930’s. The seeds of today’s recession sprouted in the summer of 2007 as the subprime mortgage crisis exposed pervasive weaknesses in both financial industry regulation and the overall global financial system. The rapid rise in unemployment throughout the nation, further eroded consumer confidence, which in turn exerts further negative pressure on businesses--truly a vicious circle.