Has Time Came for Commercial Real Estate to Go Bust?

I drive to work from Summerlin (my home) to my office on Sahara and Buffalo, and see signs after signs of lease and rental ads, and it saddens me to see many empty places even spaces which was formerly occupied by big grocery stores like Smith, are empty. Similarly, too much office space is available for rent. The space which was available for at least $2.50 square feet is available easily for $1.00 and sometimes even less. The leasing agent is even agreeable to sign a lease with few months of free spaces. Here, is an article projecting a flood of real estate going bust. Unfortunately, the signs are already very visible. There are “cracks” every where. Here, is the latest link which I found in one of the financial paper.

http://www.msnbc.msn.com/id/33404369/ns/business-personal_finance/

Is Nevada Mediation Plan Working?

First of all, let us agree that it was a great piece of legislation and promulgated with the best of hope. According to this mediation program, homes in Nevada cannot be foreclosed unless homeowners are offered mediation if there are homes are defaulted for non payment after July 1, 2009. So far, it has not done a full blockage to the rapidly rising foreclosure. Only very short numbers of mediators have been assigned and trained. Of course, we have a full time director of mediation hired and fully functional at this time. Mediation, is still governed under the Obama Plan (HAMP). But mediation, by nature is slow, and cumbersome process. Please read my other article on mediation in this blog. Somehow, it is not bringing full result as was expected.

http://www.lvrj.com/business/mediation-plan-blamed-for-delays-64197732.html

Housing Market–Is It Recovering?

Much forecast has been made by pundits of all sorts on the housing market. I wish the statistics could have been otherwise. However, the latest trends and data is proving it otherwise. It was few weeks ago Moody report which said that it would take 10 years for the housing market to fully recover. Following is another news item supporting this doom and gloom scenario.

http://www.lvrj.com/business/housing-recovery-isnt-as-close-to-reality-as-some-statistics-suggest-63955137.html