Oh "clucking Bell"

[Mega]

http://www.nypost.com/seven/05242009/busin...debt_170812.htm

Mike

[okaycuckoo]

Calculated Risk has this covered all the way - nothing new. Main thing is to keep an eye out for signs of recovery ... in a few years time.

[three pint princess]

Commercial property is a good investment in the UK.

[Guest BoomBoomCrash]

Why should people who have either individually or collectively made bad investment choices be protected by the state?

[cashinmattress]

[three pint princess]

Why should people who have either individually or collectively made bad investment choices be protected by the state?

Low-quality assets, who would have thought it?

Spend $20 Million on lobbying and try to get $3,380 Million backed by debt paid for by future generations, 'and the thought you could

actually enforce that kind of punishment 'would be my advise. I'd even buy into it, because it works.

[SNACR]

Someone recently was arguing my clarion calls about commercial property values were OTT. Mmmm - we're 6-12 months behind the US by my reckoning.

____

Separately, Bank Holiday weekend trading has plumbed new YoY lows for us, will be interesting to see how the others spin it. Big centrepiece malls like Bluewater et al putting in the worst tumbleweed like performances. As discussed in the NYP article, exactly the sorts of places all manner of pension funds have the money tied up in.

[MOP]

US Retail Analyst Howard Davidowitz:

Worst Is Yet to Come Americans Standard of Living Permanently Changed

http://www.youtube.com/watch?v=apLPw_O33YU...feature=related

Real Estate Expert: Stay Away from Malls

Howard Davidowitz--eyes-wide-open

[Frank Hovis]

Commercial property is a good investment in the UK.

Where's the cashflow if nobody's going to rent it?

Further to fall.

Most of British Land’s office buildings are in the City of London, where rents are expected to fall back to 1991 levels by the end of this year, according to analysts at London-based broker King Sturge LLP, as job losses and a mistimed building boom depress prices.

The City of London now has enough empty space to hold two- thirds of Canary Wharf, its rival financial district 1 1/2 miles to the east. About 9 million square feet (855,000 square meters) are available in the City and that may climb to 12 million by the end of 2009, according to CB Richard Ellis Group Inc. Rents that reached a high of 65 pounds per square foot in mid-2007 are forecast to fall to 40 pounds by the end of this year, according to King Sturge.

British Land’s rental income, excluding acquisitions and sales, increased by 2.7 percent in fiscal 2009, the statement showed. Tenants accounting for 1.8 percent of the rental income at March 31 have gone into administration, the company said. There were signs that “rents were under pressure across the board,” Grigg said in today’s interview.

British Land Has $6.1 Billion Loss on Property Slump

[Dangerous Woman]

Where's the cashflow if nobody's going to rent it?

Further to fall.

Most of British Land’s office buildings are in the City of London, where rents are expected to fall back to 1991 levels by the end of this year, according to analysts at London-based broker King Sturge LLP, as job losses and a mistimed building boom depress prices.

The City of London now has enough empty space to hold two- thirds of Canary Wharf, its rival financial district 1 1/2 miles to the east. About 9 million square feet (855,000 square meters) are available in the City and that may climb to 12 million by the end of 2009, according to CB Richard Ellis Group Inc. Rents that reached a high of 65 pounds per square foot in mid-2007 are forecast to fall to 40 pounds by the end of this year, according to King Sturge.

British Land’s rental income, excluding acquisitions and sales, increased by 2.7 percent in fiscal 2009, the statement showed. Tenants accounting for 1.8 percent of the rental income at March 31 have gone into administration, the company said. There were signs that “rents were under pressure across the board,” Grigg said in today’s interview.

British Land Has $6.1 Billion Loss on Property Slump

The smart money moved out of the City two years ago; rents were simply too high.

[Gurgle]

The smart money moved out of the City two years ago; rents were simply too high.

Wasn't that about the time that "Sur'Alan" moved all his money into commercial property ?

[interestrateripoff]

Was this failure put into the stress test models used by the Treasury?

It seems inevitable that a wave of defaults will hit the system.

[eek]

Wasn't that about the time that "Sur'Alan" moved all his money into commercial property ?

As Dangerous Women said

The smart money moved out of the City two years ago.