(DOWNLOAD) "Fire in the Hole: Just as Residential Real Estate Shows Signs of Strengthening, The Commercial Market Begins to Shudder (Economy)" by Charles Hugh Smith # eBook PDF Kindle ePub Free
eBook details
- Title: Fire in the Hole: Just as Residential Real Estate Shows Signs of Strengthening, The Commercial Market Begins to Shudder (Economy)
- Author : Charles Hugh Smith
- Release Date : January 01, 2010
- Genre: Politics & Current Events,Books,
- Pages : * pages
- Size : 60 KB
Description
YOU DON'T NEED AN EXPERT to tell you that commercial real estate (CRE) is in trouble. Signs of meltdown are everywhere--not only in the headlines but in the empty storefronts and vacant office complexes from coast to coast. The causes are all too familiar: lending standards went out the window, banks loaned too much, buyers paid too much, lousy deals were avidly securitized, cash-flow projections entered Fantasyland, and unhealthy speculation fed widespread fraud. Everything we saw in housing, we're seeing here. Boom-and-bust cycles of overbuilding and retrenchment are endemic to commercial real estate, so it's tempting to view this as just another post-expansion trough. Since prices have already slipped a staggering 40 percent from their 2006 peak, analysts calling this the bottom of the current cycle have some evidence on their side.