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Wilbur Ross - See Significant Losses For Commercial Real Estate


Parsad
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As with most over-builds in the economy, eventually there is a firesale below replacement cost -- http://en.wikipedia.org/wiki/Dark_fiber#Dark_fiber_overcapacity dark fiber and railways were classic over-builds.  I'm sure that Ross has an elephant gun.

 

-O

 

Out of the multitude of businessmen out there, I hold Wilbur Ross quite high, and he had some very interesting comments about the U.S. commercial real estate market today.  Cheers!

 

http://www.bloomberg.com/apps/news?pid=20601087&sid=aoRYl03Rw1_g&pos=5

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Talked to a person that works in USB lending dept for small businesses. He said he is not seeing commercial real estate tanking yet even though occupancy rates have fallen. He says the sellers are holding tight and this may be the last thing to correct before the economy recovers. He thinks most of the damage in residential is already done.

 

cheers!

Shalab

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