Commercial real estate is going down, according to retail and real estate expert, Howard Davidowitz.
"The next shoe to drop will be commercial real estate," he says with a lot of expression.
Here are some more things he is saying:
"Many malls will be closing across America.."
"These guys are very leveraged."
Why?
Davidowitz says there is too much retail space in the U.S.
He gives the figures of 19 square feet for every American man, woman and child. We only need about 12 feet each.
So that may be the answer about whether we should consider investing in commercial or not.
I think it is interesting to read the readers' comments on MortgageRatesAholic
Some are skeptical about the Fed's bright outlook for commercial real estate. This is something we should always watch out for.
We need to get all the facts before we believe public relations stories from the government anyway.
But another thing I think is interesting is this recession seems to be far from over.
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