SOURCE: Forbes

The credit crisis isn't that bad according to Sam Zell. Zell has amassed a fortune due to the cycles that shape the commercial real estate industry. He feels that the current turmoil in the financial markets is more of an emotional reaction rather than a true credit collapse.

Zell says that there is still capital readily available for commercial real estate purchasers. This is unlike other real estate busts when there wasn't financing to be had at any price. Today, a commercial real estate broker still has many options for putting together a financing package. Zell argues that the excess liquidity that was available eight weeks ago is still there today.

Even though the real estate slump shouldn't have come as a surprise, Zell feels that the simple law of supply and demand still rules. This means that there is money to be made during this current real estate slowdown. Even though the financing available may have a different risk premium associated with it, a commercial real estate investor may still have access to it.

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