Soros, Ross: Commercial Real-Estate Crash Is Coming And It’s Going To Be Terrific
We have been discussing the trouble in the commercial real estate market for the past five or six months. It is been ignored for the most part. There have a been a number of bankruptcy filings that have gone largely unnoticed.
Perhaps the chatter coming from some of the most legendary investors in the world will get a little attention.
No matter how you slice it, commercial real estate has been in trouble for some time.
Ross:
The commercial real-estate crash is the worst-kept secret in the economy, but it’s happening. It’s just taking a long time to play out. (Except in the hotel industry, which essentially has “one-day leases”).
Soros:
Billionaire George Soros, speaking today at a lecture organized by the Central European University in Budapest, said a “bloodletting” may be coming for leveraged buyouts and commercial real estate.
“The American consumer will no longer be able to serve as the motor for the world economy,” said Soros, 79.
via: http://www.bloomberg.com/apps/news?pid=20601103&sid=aoRYl03Rw1_g
via Soros, Ross: Commercial Real-Estate Crash Is Coming And It’s Going To Be Terrific | Phil’s Stock World.
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