By Daily Crux Editor Justin Brill:

Billionaire distressed-asset investor Wilbur Ross Jr. thinks the crash in commercial real estate is here.

He says that every aspect of real estate value is going negative right now. Occupancy and rents are going down, and the "capitalization rate," or the return that potential investors are seeking when they buy a property, are going way up. Investors should use "extreme caution" before putting any money in the sector, he said. "It's going to take quite a while to work itself out."

U.S. commercial property sales are on pace to be the lowest in nearly 20 years, since the savings and loan crisis in the early '90s.

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