I'm suspicious that most of the Commercial Real Estate market is now dead at this point, given how cheaply built even new buildings are, even though they are extreme in their cost, most of the businesses that were bought during Covid haven't come back, and the economy isn't improving. It's becoming a situation where I'm wondering why anyone would want commercial property.
Banks kicked the can down the road because real estate prices were so bad, the banks didn't want to take ownership of the real estate by calling the loan.
This whole economy is a shell game mixed with musical chairs. Like, musical chairs where if you sit on the wrong chair, it detonates C4 and kills everyone in the room. The music stopped several times, and so everyone just keeps walking in circles and singing pretending that the music is still going, hoping no one has to actually sit on anything.
I'm suspicious that most of the Commercial Real Estate market is now dead at this point, given how cheaply built even new buildings are, even though they are extreme in their cost, most of the businesses that were bought during Covid haven't come back, and the economy isn't improving. It's becoming a situation where I'm wondering why anyone would want commercial property.
This whole economy is a shell game mixed with musical chairs. Like, musical chairs where if you sit on the wrong chair, it detonates C4 and kills everyone in the room. The music stopped several times, and so everyone just keeps walking in circles and singing pretending that the music is still going, hoping no one has to actually sit on anything.