Commercial Real Estate Will Tank In 2009
The Commercial Real Estate Market in Southwest Florida will tank in 2009. All the handwriting is on the wall, and the information is now beating us over the heads. Despite what is printed in the News-press, our local newspaper, things are not looking good. Just take a slow ride down U.S. 41and block out all the honking horns and hand gestures as you slowly cruise in the left hand lane (the fast lane for all of youse Northerners) and look at the signs out in front of all the building on U.S. 41.
Foreclosures on residential real estate will not slow down despite what the Federal Government does with a Stimulus package. That is another blog that makes my blood boil. Commercial Real Estate Delinquencies are mounting and the Commercial Real Estate Foreclosure attorneys are getting ready to have their best year ever. They are beefing up their departments.
Commercial Real Estate Markets are deteriorating all over the United States. Why the banks have not been foreclosing on the commercial projects is a mystery to me. My belief is that they were holding on for as long as they could in the hopes of an economic turn around. However, I think they have come to the realization that its not coming any time soon.
As a commercial real estate owner, I am not happy about this at all.
This post was submitted by Carmen Dellutri, Esq., founder of The Dellutri Law Group, P.A. Currently, the firm has offices in Port Charlotte, Fort Myers, and Naples and has expansion plans for Sarasota. Mr. Dellutri also sits on the Board of American Board of Certification. Mr. Dellutri is also one of the founders of the Bankruptcy Law Network, Debt Law Network, Credit Law Network, and Mortgage Law Network. Mr. Dellutri also writes for the firm's personal injury litigation blog.
