Commercial Real Estate Time Bomb Is Ticking »
Posted By altnrg 4 months, 4 weeks ago in NewsCommercial real estate is on the verge of collapse. With the population on a hiatus nobody is purchasing commercial real estate for business.
Read Full Story at realestateproarticles.com »
1414 Views Share Story 20 Comments Report
Submitted By:
altnrg
Thank you for visiting my profile.
I run two topic-focused article publishing sites:
Alternative Energy Base - For renewable energy related articles.
Real Estate Pro Articles ...
Who Also Submitted: All »
RSS Join the Discussion
+ Add CommentComments So Far: 20 (view all)
-
-
ekklesiawarriorComment removed: Hard Banned
-
-
-
100%
bigG4 months, 4 weeks ago
This comment is below the standard viewing threshold View It »
When one realizes who really controls the U.S. government I believe that the answer is obvious. Rep or Dem doesn't matter when it comes to the power brokers and their money.
Reply
The old golden rule - He who has the gold.................
-
-
Neutral
frank19464 months, 4 weeks ago
This comment is below the standard viewing threshold View It »
There is no more TARP $$$ available, Treasury is attempting
Reply
to raise the ceiling by another Trillion, my guess is that
this is reckless and risky and will not happen. Most of the
troubled commercial stuff is larger size development which
can be written down and sold more quickly than homes. Of course
Chicken Little will put on a good performance ! ! ! -
-
Neutral
DarkWizard4 months, 4 weeks ago
This comment is below the standard viewing threshold View It »
FTA - "More than 5,300 businesses have bailed on commercial real estate loans as of June of this year, more than twice the number as of last year at the same time. Around $700 billion in commercial mortgages need to be refinanced before the end of 2010, and banks aren’t giving up the money."
Reply
Banks aren't giving up the money! Whoa...what was the bailout supposed to do? Get money/credit flowing again! Not happening.
Next...
FTA - "In April, the second largest owner of shopping malls in the nation filed for bankruptcy protection, and other mall corporations around the country are finding banks playing hardball by either ending loans already in existence or not loaning out anything new. In New York, one corporation is actually suing Citigroup, trying to get the courts to force a bank to lend them money."
Ending loans already in existence or not loaning out anything new! So, when we had the chance to let banks fail we bailed them out and they are now showing a profit. But, now these same banks are getting ready to "freeze" the system up again?! WOW!
Next...-
100%
DarkWizard4 months, 4 weeks ago
This comment is below the standard viewing threshold View It »
FTA - "Why is this all such a big deal? At stake, states James Helsel of the National Association of Realtors, are 9 million jobs that these companies provide, and with unemployment already at 9.5% across the country, no one needs another 9 million people looking for j5,obs that won’t exist without a place to go to work those jobs."
Reply
Can anyone say...Next Great Depression?!
FTA - "The worries are that, one, what already exists or is coming might not be enough, and two, that these programs all expire at the end of the year. However, since many programs are actually extensions of some programs launched last year, and knowing that Congress is working hard to figure out ways to stem the slide of our economy, it’s expected that most of these programs will continue in some form, hoping to affect a turnaround in a much quicker time period."
So, if more than 5,300 businesses have bailed on commercial real estate loans as of June of this year, more than twice the number as of last year at the same time, the second largest owner of shopping malls in the nation filed for bankruptcy protection, and one corporation is actually suing Citigroup, trying to get the courts to force a bank to lend them money, how exactly are these current programs working? THEY AREN'T!!!
-
-
-
Neutral
laneinst4 months, 4 weeks ago
This comment is below the standard viewing threshold View It »
In my humble opinion commercial property will collapse this coming fall because of the greed and oversupply by developers/ builders and who else but good old banks. Silver lining is that there is still enough time to tackle this shoe before it drops.
Reply -
-
Neutral
suprg19694 months, 4 weeks ago
This comment is below the standard viewing threshold View It »
Around Pensacola there is so much commerical real estate for sale and most has been vacant for years. Many of the downtown businesses are empty and look like they will stay that way for a very long time. Rents are going down and that won't be good for banks holding the notes.
Reply -
Neutral
suprg19694 months, 4 weeks ago
This comment is below the standard viewing threshold View It »
Most of the small businesses around Pensacola,Fl have gone out especially in the down town area. Lot of empty buildings and lower rents. This is the worst I have seen in years and the lower rents can't be good for banks holding the notes or landlords on the edge.
Reply -
Neutral
Icantwait4 months, 4 weeks ago
This comment is below the standard viewing threshold View It »
My Fellow American: Obamas Slogan was Hope and Change. The people Loved It. Imagine a Half Black Man Spouting Hope and Change. Sort of Like the Star Trek Show where the Men and Women were Half White and Half Black. However, this particular man that the Media was Advertising as an African American, is without an African or an American Birth Certificate. He was supposed to be the Only Human Being on Planet Earth that could solve all our Problems.
Reply
Act 11: No Hope and Radical Change. All his feeble efforts to Destroy America have Started to Fail. Bankrupt Banks, Banks are again Starting to make a Profit and are Afraid to Loan Out Money. They're thinking, What's Next?
Turn the Car Industry around by giving them Bailout Money. Failed, now Government Owns General Motors, and Chrysler not to mention they are stuck with Fiat. But then that's their Fiat isn't it?
Apologize to the World Despotic Leaders. Failed, They hate us even more than before and are now out producing our Economy.
Create a War with the Afghanistans? Failing, now he just want to put on a surge but not win the War. Oooohhh! Can't call it a War. How about a Balloon Encounter that we don't want to win.
Seems Like I can go on forever charting his Failures. Hey! he's always been a Failure. Why Change Now, Well, you can always Hope. The Real American
Add a Comment
Sign In With Your Propeller Account
Please keep your comments relevant to this story.
To create a live link, simply type the URL (including http://) or email address and we will make it a live link for you. You can put up to 3 URLs in your comments. Line breaks and paragraphs are automatically converted — no need to use <p> or <br /> tags.