Posted on 11/11/2009 4:51:39 PM PST by FromLori
Commercial real estate is somewhere between an orderly massacre and a disaster, William Mack, founder and chairman of Area Property Partners, a real estate investment fund, told CNBC.
“Commercial real estate has over the last several months or few years taken a tremendous setback both in rents and in cap rates,” explained Mack. “I would say depending on the type of product, the value of real estate is down anywhere from 25 to 75 percent.”
Formerly known as Apollo Real Estate Advisors, Area Property is an an international real estate fund manager with more than $50 billion invested in real estate.
Mack said
(Excerpt) Read more at cnbc.com ...
Time to buy????
Wait.... The damned bankers have not yet recognized the problem. There are still too many chairs on the deck of the good ship Titanic.
I wonder if the Fed is going to try and swallow the ocean of CMBS to save us all from drowning.
Yes.
Food, ammo, guns, generators, precious metals, diesel fuel, gasoline.
Then more ammo.
MRE’s?
Folks have to stop acting as though the solution is for people to get their heads straight. Folks borrowed money they cannot repay with their income, and the debt is now due. Folks don't need Zoloft. They need cash in their wallets.
Sure, or freeze-dried or dehydrated foods in #10 cans.
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