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Office buildings all over the country are fire-saleing at discounts of 60-70%. Letitia??
Posted on 12/18/23 at 11:41 am
Posted on 12/18/23 at 11:41 am
Is she gonna go after Blackstone et all?
Example: 60% haircut in CA - happening all over, NY, Chicago, Baltimore, etc...
Example: 60% haircut in CA - happening all over, NY, Chicago, Baltimore, etc...
This post was edited on 12/18/23 at 11:43 am
6
Posted on 12/18/23 at 11:48 am to Meauxjeaux
They can't get liability insurance. No one wants to buy them. It's turned into a giant problem for smaller real estate investors.
Posted on 12/18/23 at 11:53 am to Meauxjeaux
Good. Would love to see that in corporate sales of all the single family houses they bought too.
Posted on 12/18/23 at 11:55 am to Meauxjeaux
We all probably have at least some equity in the holding companies that are taking a bath through our 401ks.
The people losing money don't bet their own money.
The people losing money don't bet their own money.
Posted on 12/18/23 at 12:16 pm to rebelrouser
quote:
Good. Would love to see that in corporate sales of all the single family houses they bought too.
Yep. Me too
Posted on 12/18/23 at 12:20 pm to joeyjoejoeshabadoo
quote:
We all probably have at least some equity in the holding companies that are taking a bath through our 401ks.
So be it. I'm close to retirement and realize it has to happen.
The only alternative is to keep kicking that can down the road, creating bigger bubbles.
Posted on 12/18/23 at 3:10 pm to rebelrouser
quote:
Good. Would love to see that in corporate sales of all the single family houses they bought too.
That's not going to happen. They have the size and money to mitigate liability claims or even afford outrageous liability insurance premiums. Smaller investors don't. This drives down the prices and Blackstone buys the properties at a tremendous discount.
Posted on 12/18/23 at 3:18 pm to Meauxjeaux
It’s going to be a problem in 2024
We Could be facing a commercial meltdown akin to what we saw on residential in 08
We Could be facing a commercial meltdown akin to what we saw on residential in 08
This post was edited on 12/18/23 at 3:19 pm
Posted on 12/18/23 at 4:59 pm to rebelrouser
This is the damn truth right here
Posted on 12/18/23 at 5:56 pm to Rex Feral
And after Corporates buy these discounted properties, the laws will be enforced. The Corporates just need to give the politicians a piece of the pie.
Posted on 12/18/23 at 6:00 pm to Meauxjeaux
They smell what’s coming next year if Trump wins. Same as last time only this time it can NOT be tolerated. If Civil LE lays down again then the people will stand up. The Feds could only get in between and that would be like trying to break up a fight between a hundred Pit Bulls. Those buildings are worthless minus respect for Law.
Posted on 12/18/23 at 6:23 pm to Meauxjeaux
If only residential real estate was plummeting. I watched a news report last week that reported upwards of 40% of all residential real estate will be owned by real estate investment companies by 2030.
Posted on 12/18/23 at 6:27 pm to Rex Feral
quote:
Good. Would love to see that in corporate sales of all the single family houses they bought too.
That's not going to happen. They have the size and money to mitigate liability claims or even afford outrageous liability insurance premiums. Smaller investors don't. This drives down the prices and Blackstone buys the properties at a tremendous discount.
Most of the damage was done right after the financial meltdown of 2008/2009. All these real estate investment companies were buying distressed residential properties at 50-60% discounts with ZIRP money and they have continued to do so because they built great real estate portfolios with cheap ZIRP money......next to the Covid-19 stimulus wealth transfer to the elites the financial meltdown of 2008/2009 is a close 2nd.
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