Oh, now you're gonna be nice?
Me ? Never, it is against my religion...
Look...
Believe what you want to believe.
I am trying to give you a balanced outlook, clamoring for disaster is bad for your psyche, it will drive you to drink bad whiskey and worse, eat pills.
Then again, you're focus is commercial. A different ball game. Not in a bubble but trying to get a little coat tail effect from residential.
All I can say is that commercial real estate has been doing relatively well, and while it is not the same market, they are not totally disconnected from the residential.
There are locales, (inland USA -away from the west coast) that the mere move is and has been (for at least the last eleven years -if not fifteen) the driving force of these economies. Not exaggerated, simply steady upwards.
The bonus has been that there have been enough smart entrepreneurs that have brought their skills and created jobs for themselves and/or others; find/create their own niches and have prospered quite healthy and diversified the local economies. In many instances, they have created products that formerly were trucked in as there were no local supplies.
In addition, the local industrial space (particularly for the small user) used to be a shitty, leaking, inefficient old dump they called warehouse... no oil & water separators, no floor drains, no fire suppression systems... where traffic flow for delivery trucks was some sort of Chinese concept never heard of, let alone implemented... blah, blah, blah...
Conditions like these are PREVALENT in many of these former hick-towns that are now called "home" for disgruntled run-aways who are escaping from the west coast (and possibly the east as well) sundry calamities such as traffic nightmares, gangs, idiotic bureaucrats, insane politicians, overpopulating illegals, crazed starlets, drug addicts, nagging tourists, you name it they use it as the excuse to move out....
I will remind you that construction jobs, -a good percentage of the jobs created or brought in- are good paying jobs and as far as I can see... in these areas, the economy is stable, steady and residential RE is strong far... really far from being a bubble...
In fact, I believe that these locales would even get stronger if the Chicken Little prediction that the sky will fall in the so called super inflated markets would materialized. *why? Because there would be even MORE people moving in...
So... like I said, indulge and BELIEVE in the doom and gloom, just remember that self inflicted injuries are more painful -g
Be careful what you wish for as it may just become true... |
