(Crystal Proenza is associate editor of RealEstate Florida.)

MIAMI-The commercial real estate industry may be holding itsbreath until 2010, according to forecasts given at this year'sUrban Land Institute Fall Meeting at the Miami Beach ConventionCenter. Panelists at this year's planned sessions remained upbeatwhile reporting overall rising vacancies and dipping rents acrossthe board to packed, standing-room-only audiences.

"Our view is that we are most likely going to have a deepeconomic recession akin to the early '90s," said Kenneth Rosen,chairman of the Fisher Center for Real Estate & Urban Economicsat the Haas School of Business in Berkeley, CA. Rosen was part of apanel forecasting the national office, retail, industrial andapartment markets. The recession began in the early part of thisyear and remained moderate until September, when the situationbecame more severe, he explained.