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Politics : Politics for Pros- moderated

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To: unclewest who wrote (314799)	7/15/2009 12:45:07 PM
From: Alan Smithee	2 Recommendations of 793905

Also, small business storefront vacancies are increasing at a frightening rate in all the strip malls. Makes me wonder if a commercial real estate bust is getting closer. It is. My partner does a lot of real estate work. Next on the block is commercial and condos. I'm hearing stories about condo buildings with 10-20% sold, developer defaults and the bank takes the project over. They can't sell the remaining units so are renting them out. Imagine paying $500,000 for a condo and living down the hall from a Section 8 rental.

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