Hi, I'm a commercial broker. I don't do any residential work at all. I do like referals from it, but I know my business is looking at a commercial investment property and understanding everything I possible can about it. No one knows how long this recession is going to last, or when our next commission will be paid. The one thing we can count on, is more government intervention and how the Bank's will react. Without the World Banks, a commission job is at odds with a socialist economy. If we are going to have "Banks Owned by the People", then make the Banks, make the loans "To the People." Where is our "Bail Out Plan" if there's no willing to take risk anymore?
The properties are there still, the Buyers are there still, the Sellers are very much there still; Where's the Banks? Commercial Lenders are telling me they want to lend on commercial properties. When asked what kind of commercial property you lend on their answer is something like: "We like owner occupied business owners, doctors, vet clinics; people small businesses that make lots of money and have really good credit". What about the retail strip centers, office buildings, and multi family apartment complexes? "We don't make loans on risky properties like that. Anything that has multi tenants is not considered a target for our lending portfolio."
I have to tell everyone, I like the recent idea that floated around the internet a few days ago. There are about 40 million people that are over 50 in the work force right now. I agree that we should pay us $1 million a piece severance with these stipulations:
Leave their jobs --- Forty Million Jobs Openings -- Unemployment Fixed.
We all have to buy a new car - Auto Industry Fixed
We all have to either pay off our homes or buy a new one and pay for it. --Housing, Banking and Mortgage Crisis fixed.
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