Vacant commercial real estate in Columbia Missouri

A slide show of commercial real estate for sale or lease.

"The commercial real estate bubble, which peaked in late 2007 at over 6 trillion dollars in value, is now worth half of that three years later. One-half of the remaining 3 to 3.5 trillion dollars of debt is located at community and mid-sized banks.
The short term commercial real estate debt coming due peaks in 2011, 2012, and 2013.
Approximately $1.4 trillion in commercial real estate loans are set to mature between 2010 and 2014. Non-performing CRE loans on bank books had reached a level of 10% at the end of the first quarter this year according to the NYFed. This problem has yet to bail play out. The excess supply at underwater prices of the commercial real estate now in existence was encouraged by relaxed CRE lending standards earlier this decade.
Underwater CRE loans are threatening the survival of many smaller banks. So far this year 90 banks have failed on top of the 140 that failed in 2009 and 25 in 2008."(Seeking Alpha July 2010 also ...

"Housing is locked into a long-term depression. Can you imagine building 549,000 new homes with a 3-year overhang, when four months is normal? Eighty percent of the building industry is dead in spite of $8,000 credits and $1.25 trillion or $1.8 trillion in purchases of MBS and CDO bonds.
Foreclosures hitting the market are endless with no relief in sight. Millions of homes are underwater and will probably stay that way for years to come." Bob Chapman




Music by Bill Cox, 8/30/33 "History will probably record the National Industrial Recovery Act as the most important and far-reaching legislation ever enacted by Congress," Second song by Emry Arthur "Ramblin Hobo Blues"

"It is sad to see the town I love being destroyed by the Central Bankers, Federal Reserve, and Government." It is not what backs money but who controls the quantity.

Category:

Entertainment

Tags:

• inflation
• mortgage backed securities
• mbs
• cds
• credit default swap
• armageddon
• bond collapse
• snow
• apartment
• commercial
• homes
• housing
• property

[EconCat88]

The empty Circuit City stores are monuments other than for one month when the Halloween stores fill the space. Nice job with the video.

[1beinki]

@EconCat88

Thanks for the kind word. I saw your Nevada video, looks desolate.

[lecotonia]

Awesome presentation, must be a camera pro-, anyway, heart breaking to see for lease signs in desperation, where there are none chance, there were a few reopened in millions upon millions vacancies.. occupied, tried but busted, closed down again in a few months,, It was said "In the last day, merchants shall shed agonizing bitter tears.. This is not even a most horrendous depression.. There is no designation to call.. It's total demolition of rapacious human system, with no chance of parole

[qpae123]

Yes ..But where are the zombies?:D

[yaplonglong]

They are all owned by the tax payers by now, why don't the Gov open up those empty space and house the homeless?

[TheKerryzzz]

It is a nice town. A college town. Its also a wonderful place to live. I had lived there for 20 years. Still have a place there and go there some weekends. I didnt realize there was so much empty commercial there though. They forgot to show the bldg. that is empty now that I worked in just previous to moving from there to Kansas City. A small manufacturing Co. in Columbia.

[jchahine]

Hate to say it, but it looks like a good time to rent some business space. With a bit of creativity, and the right business, and some guts, some people can make it with that reduced overhead. 

[chineechik]

Looks like a nice town.  Also looks like the rest of the USA....crash and burn economy.