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“The Next Tsunami to Hit will be the Commercial Real Estate Market”

Posted By admin On December 13, 2008 @ 4:21 am In Featured Stories | Comments Disabled

George Washington’s Blog [1]
Saturday, Dec 13, 2008

I am hearing first-hand stories from some top people in the commercial real estate business that the market is crashing.

Even the big boys – big mall-owners and the owners of office buildings – are losing their financing, and can’t to deals.

The Wall Street Journal [2] wrote about the looming commercial real estate crisis in November, leading off with the quote “The next tsunami to hit will be the commercial real estate market”. Bloomberg [3] and others have covered it. Stories of defaults by the owners of shopping malls are everywhere [4] (and see this [5]). Some urban regions are experiencing commercial vacancies of 15 percent to 20 percent [6].

I’m hearing the same thing from the horses’ mouths.

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URL to article: http://www.prisonplanet.com/%e2%80%9cthe-next-tsunami-to-hit-will-be-the-commercial-real-estate-market%e2%80%9d.html

URLs in this post:

[1] George Washington’s Blog : http://georgewashington2.blogspot.com/2008/12/next-tsunami-to-hit-will-be-commercial.html

[2] Wall Street Journal: http://blogs.wsj.com/deals/2008/11/04/the-great-commercial-real-estate-crash-mark-your-calendars/

[3] Bloomberg: http://www.bloomberg.com/apps/news?pid=20601087&sid=acMZcgnTl07Y&refer=home

[4] everywhere: http://www.google.com/search?q=mall+owners+defaulting&ie=utf-8&oe=utf-8&aq=t&rls=org.mozilla:en-US:official&client=firefox-a

[5] this: http://georgewashington2.blogspot.com/2008/12/will-second-largest-us-mall-owner-file.html

[6] vacancies of 15 percent to 20 percent: http://finance.yahoo.com/tech-ticker/article/145277/The-Coming-Commercial-Real-Estate-Crash?tickers=%5Esbux,%5Egspc,%5Edji,tgt

[7] Commercial real estate maturities will peak in 2012 – $350 billion in loans coming due and hundreds of additional bank failures. Bank lending in the CRE market collapsing: http://www.prisonplanet.com/commercial-real-estate-maturities-will-peak-in-2012-%e2%80%93-350-billion-in-loans-coming-due-and-hundreds-of-additional-bank-failures-bank-lending-in-the-cre-market-collapsing.html

[8] Real Estate Bigwig Zell Sees 2009 Recession: http://www.prisonplanet.com/real-estate-bigwig-zell-sees-2009-recession.html

[9] The “Current Housing Recession is Rivaling the Great Depression’s Real Estate Downturn [and] Will Easily Eclipse It In the Coming Months”: http://www.prisonplanet.com/the-current-housing-recession-is-rivaling-the-great-depression%e2%80%99s-real-estate-downturn-and-will-easily-eclipse-it-in-the-coming-months.html

[10] The Coming U.S. Real Estate Crash: http://www.prisonplanet.com/the-coming-u-s-real-estate-crash.html

[11] Don’t Buy A House In 2011 Before You Read These 20 Wacky Statistics About The U.S. Real Estate Crisis: http://www.prisonplanet.com/don%e2%80%99t-buy-a-house-in-2011-before-you-read-these-20-wacky-statistics-about-the-u-s-real-estate-crisis.html

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