What could be worse than a housing bust?
Contrarian Profits (November 13th, 2009) Writes:
If You Thought the Housing Meltdown Was Bad… Doug Hornig, Senior Editor, (Casey Research):
…wait until you see what’s in the cards for commercial real estate.
That’s right, the next train wreck will be in commercial real estate. Couldn’t be worse than last year’s residential market crash? That remains to be seen. But it’s coming soon, probably as early as the second quarter of next year, and there’s nothing that can prevent it. The government will intervene, trying desperately to delay the day of reckoning, and may even succeed. For a while. But make no mistake about it, that train is going off the tracks no matter what.
Every part of the sector – from multifamily apartment buildings to retail shopping centers, suburban office buildings, industrial facilities, and hotels – has accumulated a huge amount of defaulted or nonperforming paper. It’s an impossible, swaying structure that cannot long stand.
Just ask Andy Miller.
Andy
...Andy Miller;, Asset-Backed Securities Loan Facility;, Atlanta, Bank, business travel;, Christmas, CMBS pool, Co Founder, contrarian profits, Denver, Deutsche Bank, doug casey, Doug Hornig;, Egypt, Fannie, Federal Reserve System, Freddie, inevitable challenge head, Insurance, Investing Lessons, Las Vegas, Market Commentary, Miller Fishman Group, overall commercial real estate crisis, pain, Phoenix, prominent banks, Real Estate, real estate debacle;, Real Estate Market, Real estate sales, retail store, San Diego, Senior Editor, United States, USD, Washington


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