Business Decisions, Big and Small What happens to a homeowner who strategically defaults? (that is, they walk away from their home because it’s worth less than what they owe). Their credit is damaged — if not wrecked — for as long as seven years. What happens to a commercial property owner who strategically defaults? If...Read More
Arizona Travelogue: Recession Catches Up to PhoenixWhat a difference 2 years makes. The last time I visited Phoenix, “the Valley of the Sun,” all you saw were cranes, cranes, cranes. That, despite the fact by February, 2008, real estate was very much on the downside of its record run, and the nation was already in...Read More
A 30 Year Overview of Commercial Real Estate Did you know that bubbles can have progeny? That’s John Carney’s take, in his treatise-length (but extremely worthwhile) post, “How A Government Bailout Created Today’s Commercial Real Estate Catastrophe” (Clusterstock; 11/16/2009). According to Carney, today’s commercial real estate bubble is actually a “grandchild” bubble; the “grandparent” was...Read More
