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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.
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.
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.
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.
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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