Relevant:
- Great Debt Unwind: Consumer Bankruptcies Jump, First since 2010; Commercial Bankruptcies Spike
- Housing Starts in U.S. Jumped in December to Four-Year High
- Benefit Spending Hits $2Trillion, Highest Percent Since 1929; One Dollar Out of Every Six From Vouchers
- Personal Bankruptcies Soar; Cram-Down Bill Nears Deal
- The Great Debt Unwind: Business Bankruptcies Soar 38%
2008-07-19 — mcclatchydc.com
Commercial filings for the first half of 2008 are up 45 percent from last year, as the national climate for commerce continues to deteriorate amid rising energy and food costs, mounting job losses, tighter credit and a reticence among consumers to part with discretionary income.
Not a surprise -- we've been expecting this for at least two years (ever since the plummeting of housing starts signaled the recession).
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Comments:
BonitaBotrell at 08:58 2008-07-20 said:
Today I was visting Concord-Walnut Creek California and everywhere in the business area were office buildings, office space, commercial real estate all for lease but the most curious thing was there were plenty of Citibank offices (whole buildings) for lease. So why isn't that in the news. Nouriel Roubini was right when he said the next problem would be with commerical real estate. It started showing up in the mail earlier this year and by the beginning of next year that is all everyone will be talking about. The next thing people will be talking about if mail trends are correct and it shows up in the mail first is the astonishing amount of personal bankruptcies to a well known bank maybe #3. The numbers coming out for this bank may look good this month but in a few months I bet they will have a surprise for all the investors. Permalinkadd a comment | go to forum thread
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