 |
“The Next Tsunami to Hit will be the Commercial Real Estate Market”
George Washington’s Blog
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 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 and others have covered it. Stories of defaults by the owners of shopping malls are everywhere (and see this). Some urban regions are experiencing commercial vacancies of 15 percent to 20 percent.
I’m hearing the same thing from the horses’ mouths.
Prison
Planet.tv Members Can Watch
Fall Of The Republic
Right Now Online -
Don't Miss Out! Get
Your Subscription Today!
CANCER CONSPIRACY? Are
"they" suppressing the cure? Will YOU
be the next victim? Learn
the Secret Truth! - READ FULL STORY
-
- Social bookmarks
- Email this article
-
- Print this page
19 Responses to ““The Next Tsunami to Hit will be the Commercial Real Estate Market””
 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | |||||||
| By N2H | |||||||||||||||||||||||||||||||||||||||||
December 13th, 2008 at 6:17 am
Good people of the world must hold gold and hold their fire, waiting to purchase the shops in main street from fallen debt based shopping models. I am ready and waiting to buy a shop to sell wholesome food and products, and to build community. Lets take the high street back from the corporate birthday card shops, the corporate eugenics fooderies, lets take it back, get ready.
December 13th, 2008 at 6:18 am
Housing prices have exceeded inflation costs and forced everyone who wishes to purchse one, to take a loan out. The banksters knew this but in their greed, I really don’t think they anticipated their properties to lose so much value.
Or am I wrong? Lowering the value allows them to come in and buy it all up at huge discounts.
December 13th, 2008 at 7:39 am
All debts will ultimately be paid;if not by the debtor,then by the creditor.
Bankruptcy for all.
December 13th, 2008 at 11:56 am
If were going to have any chance to save this country we need to spark a grass roots movement and begin turning people to our side.
The country is in turmoil and I believe more people will be receptive to a pro-freedom message. I know we just elected a communist but according to a recent poll 36% of Obama voters thought Sara Palin was Obama’s running mate. In other words they are fools.
So lets take advantage of the turmoil and use it for our benefit!
JPFO has a free video called “2A today for the USA”
http://www.jpfo.org/filegen-a-.....wnload.htm
What if we blanket the internet with this video for a start?
You guys are geniuses so finding a way to make this work shouldn’t be a problem, so spread the word!
December 13th, 2008 at 12:17 pm
How about we sieze all these vacant office buildings and turn them into ultra-low income housing for all of the people who are to become homeless thanks to the carter-reagan-bush-clinton-bush-obama legacy?
December 13th, 2008 at 12:22 pm
Dont forget nixon,lbj
December 13th, 2008 at 12:28 pm
http://ca.youtube.com/watch?v=STyaDkoQYzc
December 13th, 2008 at 3:02 pm
Stunning stuff, I always thought everything was a house of cards, My family farmed for a living while I grew up in 1980’s yuppie California, And all these people wanted air conditioned office jobs with benefits. No one makes anything, builds, grows, invents, creates, yes there are exceptions to the rule. I have been thrown out put down left out on most levels of this society and have witnessed its demise with keen insight knowing one day the roosters would come home to roost. I have no answers this could linger for a few decades so no reason to panic but unless someone with true virtue and ethics steps in to fix it we are done as a nation. Kick out and deny social services to illegal aliens, reverse the flow of intellectual property and trade, tax and regulate foreign competitors, offer discount business start up loans, protect family farms that feed us, ramp up high school and college kids with work programs, put all the construction workers on projects to rebuild infrastructure, destroy the hidden terrorist among us, deny tax benefits to the china/india families who skirt tax laws and “pass” businesses along to there “families” mostly in inner cities, its not to late to protect and serve this country, but when illegal aliens are checking me at an airport security you know the gig is up, when I’m denied a loan at the bank by someone who does not speak english you know its over, when I am denied because of my race when my family helped build this nation and participated in almost every war I just want to scream.
December 13th, 2008 at 5:40 pm
dave c
well said.
December 13th, 2008 at 5:52 pm
I live in a community just outside San Diego. Above average in income and housing values. We have an “Auto Row” on the main street. In the past year two have folded up. and another is in BK. An industrial park has gone up just outside the main part of town in the past few years. There are still a few vacant parcels of land. But, I notice more and more “for rent or lease” signs going up in this area. A gym I had membership in located in a warehouse structure with other businesses closed in Feb. It is still sitting vacant. The small malls along the main street also have many vacancies. I’m OK as I’m retired with safe sources of income and have always lived well below my income. But, many people have their backs against the wall. Housing has lost about 30% in my area over the past 18 mos.
December 13th, 2008 at 6:13 pm
dave – your problems were caused by Sacramento and the only solution is to neuter the state government, lower taxes eliminate social “services” and shot down thsat very expensive state government you have.
I used to live in San Diego. I left in 1980 when my daughter was born. My wife and were watching the news one night and they announced the great news that for the first time in a decade the illiteracy rate of high school ghraduates decreased by a 1/2 percent.
The “illiteracy rate of high school GRADUATES” for God’s sake!
I left California for good 2 months later. Yes I miss the weather, I miss the diving and fresh vegetables from the valley and home cooked tortillas on the side of the road. I miss the Pacific Coast Highway, but I made the right move.
Dump Sacramento. Force the state government into bankruptcy then take away their legitimacy and try freedom again.
December 13th, 2008 at 6:40 pm
How can any property really be worth anything right now. I mean lets just assume prices have dropped 40 percent accross the board. Where is the BOTTOM? there is no bottom right now because our Corrupt Congress supported the Banksters instead of stablizing the Real Estate market, and contrary to what the Talking Heads on the MSM say, it is all in freefall right now and that includes Commercial…
http://www.youtube.com/watch?v=ZzPZ-zKfld0
December 13th, 2008 at 6:44 pm
The Stock Market right now is being artificially held in place by pumping Trillions into Bank Coffers to make sure the Bottom Line of the Banks looks sound…
and you cannot print enough money to make that reality last…
http://www.youtube.com/watch?v=UPgqI1e-rDo
December 13th, 2008 at 7:11 pm
Thank god that part of the market is crashing, can not wait for the debt sector to take a dump. This a lesson in life folks, live within your means. If one exceeds their means they will lose big time, up to you.
December 13th, 2008 at 7:13 pm
GOD is GOD and not an American invention. LEARN THAT. GOD is not designed by what the programmers in elite America decide. If the commercial market crashes, and the retirement funds fail, what do you think was designed to happen. The MONSTERS that have arisen from within the American education system has great leaders are the very same monsters who have destroyed the system and you still worship them and respect this group of silly monkeys. Until WORMWOOD crashes into the sea you people will buy that the American Class system is correct. We now see that nature and her absolute wrath will be required to even begin to bring the point of correction to the remnant. Before you dismiss us, give us 3 years and lets just see if our beliefs are anywhere near correct.
L E V I A T H A N
December 13th, 2008 at 7:17 pm
Real property is only worth what someone will or can pay for it. Using that very simple principle, it was easy to predict the bust in the market.
How far could prices realistically appreciate until no one coud eve afford the interest on a loan? Can a family making $50k a year afford a $million mortgage even ay 50 years?
Using that guidance it was actually easy to predict the bust. No property is worth a million dollars unless you can sell it for a million dollars. This very simple principle escaped quite a few otherwise smart people.
It will equilibrium when the supply balances out with the demand and that could be quite some time because of the overbuilding and mal-investment that occurred. People also over invested with pools, add-ons, granite countertops and crap that die nothing to enhance the value of the property and only caused the amount a seller is going to lose when he tries to sell it.
Any way you shake it it has a long way to fall yet.
December 14th, 2008 at 12:38 am
No doubt will the financial crisis hit commercial real estate, it already is leaving its mark. After housing its an inevitable path. I was in Orange CA last week in one of the more popular LA super malls. What I saw was no longer a super mall, big name stores are going to shit, virgin records, skate boarding stores, more than half were going out of business, and its like this all over southern CA without a doubt are things gonna get deeper into shit
December 14th, 2008 at 2:33 pm
wonder if the property taxes will drop with the value?
March 23rd, 2009 at 10:00 pm
I was looking around for some material on real estate business techniques and I stumbled over your article. I found a few interesting pointers for my knowledge. Thanks Admin!