The Other Shoe Has Dropped

Today's Republic has a must read article in the business section that sheds more light on Arizona's economic crisis; first homeowners' foreclosures - now commercial.

A well-known strip mall developer and business associate told me 2 years ago that Arizona was headed toward the worst commercial property crisis in its history.

I hate when he is right!

Check out the article yourself:

http://www.azcentral.com/business/articles/2009/08/05/20090805biz-commercialforeclosures0805.html?source=nletter-business