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Loading ...Commercial Real Estate: The Next Hole in the Economy
DC-area developer Jeff Neal gives the Huffington Post Investigative Fund a tour of empty commercial properties just blocks from the Capitol. Hundreds of small and medium-size banks are facing huge numbers of possible defaults by builders who erected thousands of office towers, condominiums and shopping centers with the easy credit available five years ago.
Posted in Real Estate | 
Tags: buildings, commercial real estate, financial crisis, foreclosure, Jeff Neal, Mortgage crisis, Washington Nationals, zombie
25 Responses to “Commercial Real Estate: The Next Hole in the Economy”
You radical leftists are so full of shit that it comes out on YouTube. You are an idiot if you think you can change people to believe your crock of shit. How in the hell can you suggest that survival is no longer needed? How in the hell can you also suggest that people don’t want to have faith in anything? Success and opportunity is what people need and want. Not the destruction of it. What a moron.
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I agree with everything you are saying here, these are problems for this type of system. But again, capitalism is not the best system, without some form of outside intervention all the worlds resources WILL be controlled by a few hands. Capitalism concentrates wealth because it rewards greed, that is immoral, (by moral I mean a collective understanding of morality) because on an individual basis people are mostly generous and they know greed is immoral.
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But the further away the view of the individual gets the less they care about the people they are screwing. It is inappropriate for people to go without healthcare, food, and shelter simply because their station in life. It is also horribly wrong for the individuals at the bottom of the economic class to suffer far greater for the GREED of the ruling class. We didn’t create this system yet we lose everything by it.
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If capitalism is unchecked, you would have a few monolith firms that would be “too big to fail” and if they failed everyone would suffer greatly. The swings in the economy would be much more wild.
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I have gone to workshops at the NYTimes building and I hate them, their (denied) bias is so astoundingly clear yet their claims of “unbiased reporting” echo in my ears, they are hypocrites, just like most mainstream outlets, they are concerned about their bottom line and nothing else.
I am not a Keynesian, so I have no use for Krugman, however, I would rather see govt spend money on infrastructure projects than corporate bailouts.
I am a carpenter after all!
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I’m sorry but you have no factual basis for these claims and seem to exhibit an all too common misunderstanding of how capitalism works. Capitalism discourages against wealth concentration in markets if those markets are functionally free. Excessive bigness creates inefficiencies more often than economies of scale and naturally fails. This would mean bankruptcy in a capitalist system, but in the US Monetarist System it means the Fed bails you out.
We’re all Friedmanites now.
- L. Summers
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Tha bailouts shouldnt have happened at all. The bailouts are going to seriously fuck up the economy you cant just print money without consequences otherwise we would have printed 50 Trillion to ‘realllly’ get our economy back on its feet
I mean wth lol
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Thats not true by any means. Businesses wont make money if people dont buy their product. They’re giving people what they want, if people dont want it, they wont invest in what the business is selling and the company will fail. Its simple logic, its amazing you dont understand it. Businesses cant be greedy if there arent people giving them money by their own free will.
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Between now and 2 years from now we’re going to look back at this video as a cassandra. This is 100% true ladies and gentlemen, what happened in the housing market is exactly whats going to happen with commercial real estate. All this is going to happen IN the second dip of a double dip recession, which will in fact be more of an inflationary depression. Of course if the FED leaves interest rates unchanged for the next two years we’ll just see hyperinflation. Damned if u do, damned if u dont.
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You completely ignore the human component by attempting to make a binary argument. It is not black and white and people buy what they are CONDITIONED to buy, I believe this is called advertising? What you are explaining looks great on paper but has their ever been an example of a totally (pure?) free market? I guess another way to put it is where is your empirical data, or are you relying on theory?
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Agreed, the bailouts shouldn’t have happened but worse than them happening is that they went to the people that wrecked everything, especially when there are people literally starving AND the government picks up the tab by way of social services anyway. So why not just put these people on the pay roll and get something out of it? Instead, they gave money to people who may lend money to people who may start projects and may hire people, all while the unemployment level rises.
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As I have said before, remove the subsidies, the (appearance?) consumer protections, social programs such as welfare and YOU WILL HAVE A REVOLUTION. There are far too many people who have been left behind and oppressed by what you call the welfare state to just change how things work.
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Yes and when there is monopoly control over essential goods and services such as food and water than what? What prevents the monopoly and the corporate monster from swallowing up any start up competition? The answer is nothing!
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Lets be honest, if people like Neal were honest when they held the keys to the economy we all would not be in the place. These same business men on here crying about their loses are typically the ones who caused the problems to begin with through poor business practices. The only people who are truly suffering are the hard working Americans who are now of work because of these business moves. We need honest people in America and boot the rest! The DEMOCRATS have really screwed us!
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And who was it that created these radical lending practices? THE DEMOCRAT – PERIOD! When Clinton was in office he is the one who brought in Rendition and he set up to lend to people who could not afford it. Then the DEMOCRATS purposed the tarp and rushed it through being they have had control of congress since 2006…to blame bush is simply ignorant and untrue and enough is enough…we need to make those responsible pay…THE DEMOCRATS…Tim G was chair on the first tarp bailout. We got set up!
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We know the democrats started the KKK and they caused the civil war by not wanting to end slavery. After the civil war the republicans placed 13 blacks into our government stating they had been done wrong and this would insure it wouldn’t happen again. The democrats protested them out and have protested black people in our government until the 60’s when they needed them. Please do not allow them to use you, Americans are too smart for this to happen to our great land. Bring America back in 2010!
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So you’re telling me that you buy things you dont want to buy because the TV tells you to? You do that personally?
Hilarious. That pretty much explains your position on capitalism right there. You’ll believe and do anything exterior sources tell you to.
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This is exactly right!
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I hate the developers, and eminent domain, and in california we got the builders line up to build green, and SB 375, on the horizon, california has never had a problem with natural development, but now we are overdeveloped and the SCAG and RHNA figures are still coming, fricking insane councils of governments under orders from the UN agenda 21 building clusterfucks
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Mixman77 please this is not a republican thing or a democrat thing, this is a greedy, the only jobs left in america, are the building, and all the buildings are empty, because people are addicted to credit, look at the derivatives, how does it feel to be a red chinese democrat or red chinese republican? Shit we are being so dumbed down by chemtrails nobody has the energy to think let alone build..
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These are the types of characters who have captured the
American government and gamed the US financial regulatory system for pure personal greed .
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That’s right Ladies & Gentleman,
The ‘Real’ real estate crash is on the
way. This will dwarf the fraudulent
‘housing crash’ by many magnitudes.
And, of course, further compound the
depression of housing prices. In other
words, This is Just The Beginning.
There will be ‘No Recovery’! Let’s make
that very clear. The U.S. is being
de-industrialized by the globalist,
inbred scum. Everything is proceeding
as planned.
Bang up job guys!
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Saw this coming a mile away.
On a side note, it didn’t help that these buildings displaced thousands of poor and low income people.
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Well said. A complete goat-fuck by design. Then when everyone is penniless, they’ll institute government everything to solve the problem. Problem=>Reaction=>Solution. Hear the sheeple bleat for help…. Heeeeeeelp meeeeeee!
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No ‘help’ from the cunts in Washington,
by and large, there are laughing at what
is happening. Unfortunately these goats,
sheep, are actual people, people that
never learned to count past ‘2′.. 1, 2,
3 Third Party Candidate, this could have
been avoided decades ago.
So ‘goats’, ’sheep’ what have you, because
the masses can’t count to ‘3′ [three], here
we are. Way to go ‘Amerika’, you wrote
the script to a tee.
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