Tuesday, March 22, 2011
Government Is Doing the Wrong Things (As Usual) and Stand By for Commercial Real Estate to Tank!
This is an interesting interview which suggests 1) that the housing industry has bottomed out, but 2) that there's a major one Trillion Dollars worth of bad debt in the Commercial Real Estate market that hasn't fully hit the wall. 350 thousand people have left Detroit making it a poor rich for housing investment until demand returns. But that requires jobs and the policies of the Federal Government are keeping banks from loaning money to exactly those sectors which most help the job market. Go Figure! Meanwhile let's have new war! Yeah, that's the ticket! I am so sick of this administration I'd like to get into a time machine and jump forward except I'm not sure I could handle the devastation.
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