How to Play the Property Meltdown in Five Charts - The Wall Street Journal

With housing in short supply, developers are converting more empty offices into apartments. But not all buildings are candidates for reuse, even as more than one billion square feet of office space sits vacant across the U.S. Photo Illustration: Amber Bragdon

Is the pain over yet for U.S. commercial real estate? The answer might be yes for stocks but no for the assets they own.

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