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Old 02-28-2009, 08:05 AM
 
4,510 posts, read 4,115,696 times
Reputation: 1501

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Commercial Real Estate Will Tank In 2009

The Commercial Real Estate Market in Southwest Florida will tank in 2009. All the handwriting is on the wall, and the information is now beating us over the heads. Despite what is printed in the News-press, our local newspaper, things are not looking good. Just take a slow ride down U.S. 41and block out all the honking horns and hand gestures as you slowly cruise in the left hand lane (the fast lane for all of youse Northerners) and look at the signs out in front of all the building on U.S. 41.
Foreclosures on residential real estate will not slow down despite what the Federal Government does with a Stimulus package. That is another blog that makes my blood boil. Commercial Real Estate Delinquencies are mounting and the Commercial Real Estate Foreclosure attorneys are getting ready to have their best year ever. They are beefing up their departments.

Commercial Real Estate Markets are deteriorating all over the United States. Why the banks have not been foreclosing on the commercial projects is a mystery to me. My belief is that they were holding on for as long as they could in the hopes of an economic turn around. However, I think they have come to the realization that its not coming any time soon.
As a commercial real estate owner, I am not happy about this at all.

This post was submitted by Carmen Dellutri, Esq., founder of The Dellutri Law Group, P.A. Currently, the firm has offices in Port Charlotte, Fort Myers, and Naples and has expansion plans for Sarasota. Mr. Dellutri also sits on the Board of American Board of Certification. Mr. Dellutri is also one of the founders of the Bankruptcy Law Network, Debt Law Network, Credit Law Network, and Mortgage Law Network. Mr. Dellutri also writes for the firm's personal injury litigation blog.




Commercial Real Estate Will Tank In 2009 :: Florida Bankruptcy Lawyer Blog
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Old 02-28-2009, 08:21 AM
 
Location: Iowa, Heartland of Murica
3,437 posts, read 5,512,863 times
Reputation: 3410
Don't worry, help is on its way. Obama will help people like you by raising taxes because people who own commercial real estate are all wealthy and evil.
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Old 02-28-2009, 08:30 AM
 
4,182 posts, read 5,800,854 times
Reputation: 1720
Quote:
Originally Posted by Repubocrat View Post
Don't worry, help is on its way. Obama will help people like you by raising taxes because people who own commercial real estate are all wealthy and evil.
That's false. The tax increase you're talking about is really just a sunset of the Bush tax cuts. They were scheduled to expire on 2011. That schedule was preset by the Republican congress and approved by George Bush. That has nothing to do with Obama. But, carry on with your disinformation if it makes you happy.
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Old 02-28-2009, 09:37 AM
 
4,510 posts, read 4,115,696 times
Reputation: 1501
Quote:
Originally Posted by ndfmnlf View Post
That's false. The tax increase you're talking about is really just a sunset of the Bush tax cuts. They were scheduled to expire on 2011. That schedule was preset by the Republican congress and approved by George Bush. That has nothing to do with Obama. But, carry on with your disinformation if it makes you happy.
I'm sure he will.
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Old 02-28-2009, 10:32 AM
 
47,573 posts, read 60,651,860 times
Reputation: 22283
Obama can come up with another few trillion dollar bailout for you too. Maybe one that Pelosi and Frank thought up.
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Old 03-04-2009, 08:32 PM
 
4,510 posts, read 4,115,696 times
Reputation: 1501
Quote:
Originally Posted by malamute View Post
Obama can come up with another few trillion dollar bailout for you too. Maybe one that Pelosi and Frank thought up.
Who said I was looking for a bailout? I am not a corporate welfare ***** like the AIG and BOF CEOs.
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Old 03-05-2009, 08:01 AM
 
2,693 posts, read 3,107,811 times
Reputation: 984
Well you bought based on a market built on speculation. You made the mistake now take responsibility. Too bad, your loss.

Isn't that the right wing, free market solution.
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Old 03-05-2009, 08:04 AM
 
Location: The Woods
16,958 posts, read 22,274,224 times
Reputation: 9066
Hmm, I thought the markets would see a 1,000 point jump. And now commercial real estate will collapse? That can't happen, the O got elected!
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Old 03-05-2009, 08:40 AM
 
3,144 posts, read 7,352,563 times
Reputation: 876
Don't fret so much KRAMERCAT... the Messiah will save you.
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Old 03-05-2009, 08:46 AM
 
Location: Londonderry, NH
41,492 posts, read 51,392,857 times
Reputation: 24613
Anyone that purchased anything on the basis of speculative gain, as opposed to real value, with low cost credit is going to have a massive margin call. Without the free credit your asset value just fell through the floor. I suggest holding until the economy improves and the asset value can be accurately assessed by the market. If you can't support it for that long give it to the lender and fold your tent.
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