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Old 02-14-2009, 04:31 PM
 
2,260 posts, read 3,481,338 times
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I've heard form different sources that commercial real estate will be the next segment of the economy to crash and it's expected to be exponentially worse than housing and really could send us into an uncontrollable spiral downward.

Has anyone heard this?
What do you think?
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Old 02-14-2009, 04:56 PM
 
Location: North Central Florida
6,213 posts, read 6,841,087 times
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Been hearing this since last September. Been noticing more and more businesses, big and small in my locale, disapearing, many without notice. Here today, gone tomorrow. In their place is another dark door, with another "available" sign attached to it. Add to that the new commercial storefronts, and office buildings that are just being completed, with nobody to lease them.....
Oh yeah....the banks are gonna be holding alot of non performing commercial mortgages, that typically have a face value many times the average residential note.
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Old 02-14-2009, 05:17 PM
 
Location: Bedrolls now in NM and in TX.
13,182 posts, read 18,062,494 times
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I've been reading at CoStar.com that some commercial property landlords are increasingly under pressure by their tenants to renegotiate their lease agreements. As a commercial landlord, it is old news to me.
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Old 02-14-2009, 05:19 PM
 
Location: North Beach, MD on the Chesapeake
36,555 posts, read 47,169,410 times
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It's been happening here for about a year. Marginal to begin with retail businesses first, of course, but now some long standing businesses are shutting down. This would not include the construction/development firms which have bleeding for over a year.
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Old 02-14-2009, 05:21 PM
 
Location: Heartland Florida
9,324 posts, read 24,717,481 times
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The rents have been going up to unsustainable levels for some time now. Finally the credit-starved consumer has been cutting back. Most of those stores that close will not be replaced by new tenents anytime soon. Overpriced properties face high insurance and taxation, so landlords will hold out for higher rent. Expect many vacant properties in the next few years as stagflation or hyperinflation hits.

All I say is "good riddance"- let's convert some of these back to useful farms or other manufacturing.
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Old 02-14-2009, 05:27 PM
 
Location: Bedrolls now in NM and in TX.
13,182 posts, read 18,062,494 times
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Quote:
Originally Posted by North Beach Person View Post
It's been happening here for about a year. Marginal to begin with retail businesses first, of course, but now some long standing businesses are shutting down. This would not include the construction/development firms which have bleeding for over a year.
Yes and one of my tenants is a new home builder and I know for a fact he is bleeding. However, I keep my rents substantially below the market even in good times as I have nothing invested in these properties but my time. I'm hoping for a miracle but prepared for the worse.
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Old 02-14-2009, 08:02 PM
 
Location: The Woods
17,601 posts, read 23,680,206 times
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Just give it some time, it is coming...
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Old 02-14-2009, 08:07 PM
 
4,570 posts, read 6,833,162 times
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This must be a dream.
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Old 02-14-2009, 08:17 PM
 
20,194 posts, read 21,551,095 times
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Hahaha... I am telling many business owners to close shop and fire all their employees and find a job... Some are listening, some aren't and those that aren't are complaining they are losing more money than ever every month... some are beginning to listen... I say if the government is going to eff everything up than screw the government first...
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Old 02-14-2009, 08:28 PM
 
Location: here
24,844 posts, read 32,163,382 times
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It makes sense, as businesses close...
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