Checking out your videos since you invited me over. I'm enjoying what I see so far. Yeah, the economy is in bad shape and it's not getting better. But the media doesn't want you to know that. They just want to make the government look good. It's never about the truth.
It's happening up here in Canada as well. Don't believe the hype that Canada avioded the crash. Our banks did get bailed out, but the government run media are keeping it quiet and everyday they say we are out of the recession.
Honestly, there are many many similar things even in New York. Just around the block from me someone decided to construct a whole shopping center...This place has been up for about a year and a half and I believe that there is only ONE store being used in the WHOLE center...I just don't get it...I see these signs all over the place. AND they are STILL building places...Why would they keep building if they KNOW no one is buying?
@RiaRoseKnows i believe that many people dont see the big picture...hence the reason for my channel. Yes it is smart to build during a down trend like this (if you can outlast the vacancies)... but we havent hit the bottom yet so many of these commercial builders are ust gonna get slaughter the next couple years.
Unfortunately, there is no solution. The owners of these properties will take BIG hits & losses when the loans come due & we will see mucho deflation in the prices of these assets (unless Bernanke foolishly attempts to re-inflate by printing more debt). Another episode like we saw in fall 2008 is highly likely & could be even bigger. When this occurs I have no idea but since alot of these loans are due end of 2012... That will be the catalyst. Buy precious metals and hold on for the ride.
I was there last week. It was freaky how much space was vacant. In your opinion, what is the solution? what are the owners and banks doing to deal with this?
Checking out your videos since you invited me over. I'm enjoying what I see so far. Yeah, the economy is in bad shape and it's not getting better. But the media doesn't want you to know that. They just want to make the government look good. It's never about the truth.
destroyahdes 1 year ago
It's happening up here in Canada as well. Don't believe the hype that Canada avioded the crash. Our banks did get bailed out, but the government run media are keeping it quiet and everyday they say we are out of the recession.
smasila 1 year ago
@smasila thanks for your comment
MacroJumping 1 year ago
Honestly, there are many many similar things even in New York. Just around the block from me someone decided to construct a whole shopping center...This place has been up for about a year and a half and I believe that there is only ONE store being used in the WHOLE center...I just don't get it...I see these signs all over the place. AND they are STILL building places...Why would they keep building if they KNOW no one is buying?
RiaRoseKnows 1 year ago
@RiaRoseKnows i believe that many people dont see the big picture...hence the reason for my channel. Yes it is smart to build during a down trend like this (if you can outlast the vacancies)... but we havent hit the bottom yet so many of these commercial builders are ust gonna get slaughter the next couple years.
MacroJumping 1 year ago
Unfortunately, there is no solution. The owners of these properties will take BIG hits & losses when the loans come due & we will see mucho deflation in the prices of these assets (unless Bernanke foolishly attempts to re-inflate by printing more debt). Another episode like we saw in fall 2008 is highly likely & could be even bigger. When this occurs I have no idea but since alot of these loans are due end of 2012... That will be the catalyst. Buy precious metals and hold on for the ride.
MacroJumping 1 year ago
I was there last week. It was freaky how much space was vacant. In your opinion, what is the solution? what are the owners and banks doing to deal with this?
donmcclainrealestate 1 year ago