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U.S. markets lower Monday ... In global crisis, money stays home ... Swedes may help resolve Ukraine's gas bill ... Commercial properties face bursting bubble ... News from United Press International.

U.S. commercial property in a downward spiral (International Herald Tribune)
With job cuts rampant and businesses retrenching, more empty office space is expected from New York to Chicago to Los Angeles in the coming year.

Office Demand Is Down, and So Are the Deals (New York Times)
By most accounts, the commercial property market reached its pinnacle in early 2007 with the Blackstone Group ’s acquisition of Equity Office Properties Trust and its prized cache of more than 500 office buildings.

Planners Look to Pax River as Guide Ahead of Military Base Expansions (Washington Post)
Where once there were trees and fields there stand office buildings adorned with the names of giant military contractors: Northrup Grumman, Sikorsky, Raytheon and more. The road leading to the Patuxent River Naval Air Station has widened from two lanes to six and become lined for miles with shopping...

More empty office space bodes poorly for banks (Pioneer Press)
Vacancy rates in office buildings exceed 10 percent in virtually every major city in the country and are rising rapidly, a sign of economic distress that could lead to yet another wave of problems for troubled lenders.

Report: Tough commercial real estate market will linger (BizJournals)
Grubb & Ellis Co. on Monday released its 2009 global forecast that predicts a troublesome year for commercial real estate in the U.S., including Greater Sacramento.

U.K. Commercial Property Index Fell Most on Record in 2008 (Bloomberg)
Jan. 2 (Bloomberg) -- U.K. commercial property companies recorded their worst year in 2008 as real estate values plummeted in the global credit crisis.