It seems like one financial crisis in the United States after another during this recession, which just got lengthened to at least 4-more years by President Obama. So, what’s next you ask? Well, how about massive credit card debt defaults and Commercial Real Estate.
Oh you cannot be serious Lance? Actually, I am very serious, but since you asked let me explain. You see, I thought Sam Zell was too optimistic, when I saw him on the financial news in October and November talking up the commercial real estate market, but hell in his position I don’t blame him. Look what happened after that with the Tribune Holding Company?
Also, I think Dubai is about had it too, and that ought to send CitiBank down to $1 per share, that is if it is even worth that much when the stuff hits the fan. The Swiss Banks too will be left holding some of that bag, so the World Financial Commercial Real Estate is hardly ready for this Earthquake. After all, it’s already gone through so much as it is.
Can Commercial Real Estate get any worse in the United States?
Heck yes, in fact, I was recently reading an in depth report from the International Retailers Association, predicting 73,000 retail closures, crap, that’s a lot of jobs too, also dead centers, as anchor tenants vacate. It’s scary. In the franchising industry you can imagine the worries, total collapse of some franchisors, taking out the whole system – not pretty.
This is going to take out a million jobs in the retail sector and who knows how many little businesses with it. The commercial real estate industry is sweating bullets right now and for good reason. Think on this.
Commercial Real Estate Markets in the US About to Collapse
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