"Hold the celebrations and put the champagne away. A sustained recovery in the UK commercial property market is likely more distant than it might seem, as lingering economic hazards threaten a long-awaited rebound." That is the warning from Reuters Real Estate writers Sinead Cruise and Daryl Loo as certain economic indicators paint a picture of recovery in the United Kingdom...the one everyone around the Globe are anxious to witness....This warning is true in the US as well - where the spin doctors put the con into consumer confidence. Heed the advices of the experts quoted in this article:

“People need to be wary of getting too carried away with the potential of the upturn, because the problems of refinancing are lurking over the rest of this year and into 2010,” Ed Stansfield, property economist at Capital Economics, said.

Keith Steventon, head of research at BNP Paribas Real Estate UK, told Reuters: “We’ve been here before. We know it takes time. It’s not zeal we want, but patience.”

FYI: The risk of a double dip recession is increasing on the lips of noted economists around the world....Hold onto the bar, we are in for a long, turbulent ride....

For a complete copy of the referenced article, go to http://www.reutersrealestate.com/monitor/story/152922/1368 or contact me at pjones@pyramidrealty.com with the request.