Wednesday, August 5, 2009

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

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1 Comments:

At August 5, 2009 at 2:18 PM , Anonymous Travis said...

I hope we are brave enough to allow the market to take care of this. If we do what has been done in the other real estate market and pick winners and losers, we will all lose.

This is going to be an opportunity to get great deals and give some business owners the incentive to change and/or innovate.

No rescue. Oversight is fine, but allowing politics and politicians pick winners and losers by bailing out some business and not others will be our undoing.

I would like to see the government stop strangling and burdening small business and let the great and brave people of Arizona work this out.

I say this as a small business owner who because of government interference and destruction of my own small business, must re-invent my business. I intend to buckle down, think hard, work hard and come out on the other side knowing I did not burden others, but I took care of myself and my family and thereby helped everyone.

 

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