“Commercial Real Estate Collapse” : Gerald Celente Was Right!
February 13, 2010 - 2:20 pm
Gerald Celente predicts “Commercial Real Estate Collapse” in ‘09. Today I drove around town and filmed all the vacancies. All film was shot in one city! It looks like this in neighboring areas as well.
I didn’t even go to the mall or the industrial areas. That will be later. Check out Gerald at wwww.trendsresearch.com
Duration : 0:4:44
[youtube F_R41jpfiWc]
February 13th, 2010 at 2:20 pm
Yeah but at least …
Yeah but at least its warm in the winter….
February 13th, 2010 at 2:20 pm
What other option …
What other option do they have? It’s either that or starve. And it isn’t going to be just those without college education. It will be white collar pros who are going to find themselves in impossible situations. I can’t tell you how many college educated, highly trained people I’ve met that can’t find anything at all. When it finally starts to hit the middle and upper middle class, then TSHHTF.
February 13th, 2010 at 2:20 pm
watch?v=naxE2n8uhOw
watch?v=naxE2n8uhOw
February 13th, 2010 at 2:20 pm
And the unemployed …
And the unemployed may out of desperation may commit crimes to eat.
February 13th, 2010 at 2:20 pm
I’ve been out to …
I’ve been out to those counties and it is 10 times worst than Los Angeles. The commercial properties there are literally vacant in every street. The reason you still see developers building is because they are on a construction loan with a balloon payment coming. It is better to complete the project and hope an investor does buy it, rather than just abandoning the project and have a 0% of sale.
February 13th, 2010 at 2:20 pm
The industrial …
The industrial warehouses has been hit first before the commercial retail. I work as a commercial agent and LA is nothing like Murrieta or any counties east of LA. If you do get a chance to be out there you would be shocked how many vacancies are there.
February 13th, 2010 at 2:20 pm
Tucson AZ is having …
Tucson AZ is having the same problems with commercial realestate. Companies around mine are leaving their buildings and boarding them up. It’s getting to be a ghost town!
February 13th, 2010 at 2:20 pm
I don’t know how …
I don’t know how anybody can argue with you. Along with teachers being fired, Sacramento County is laying off over 200 sheriffs and will not fill the 90 job openings that they had prior to the collapse. In two years, 300 less LEO’s will patrol Sacramento roads/streets. That is imo all anyone needs to know to understand just how bad things are. When cops are being let go, things have fallen apart.
February 13th, 2010 at 2:20 pm
San Gabriel Valley …
San Gabriel Valley baby!!! Big collapse is coming/going on right now. Glad I left Alhambra when I did. It’s WAY over priced and no jobs that pay well left. Good luck to those that remain, you’ll need it!!!!
February 13th, 2010 at 2:20 pm
in los angeles …
in los angeles school district they are cutting jobs left and right. retailers are not hiring AT ALL! it is it just the begining. you better get ur thumb out of your and turn off the mtv because we are sitting on a time bomb that we dont know what its set for! or you can go back to your “reality shows” and enjoy la la land, rest assured that your lifestyle will change very soon, we have not seen anything yet!
February 13th, 2010 at 2:20 pm
are you …
are you blind or just plain stupid.. what part of ca are you living in? you must must not pay attention to what is going on around you. Have you been to riverside ca, or lancaster, or san pedro. let me inform you people are hurting, they are handing out iou’s as we type! It may seem biz and usual, but go to your local mom and pop, if you can find one and ask how they are doing! Talk to a construction co. owner and he will tell you a different story.
February 13th, 2010 at 2:20 pm
It has been the …
It has been the same since April. Not really any new vacancies but no one filling these yet either. Next I wanna do the industrial vacancies. Those are adding up too.
February 13th, 2010 at 2:20 pm
ahh ok thanks for …
ahh ok thanks for the explanation. What city is this by the way?? Id appreciate if you could do updates occasionally just to see how bad it gets where you are at because this video is in April and I expect a lot of the commercial bankruptcies to start kicking off this summer and even morseo in the fall
February 13th, 2010 at 2:20 pm
Did you read the …
Did you read the description??? This is all from one city. Small suburb of 8 sq miles and pop 70,000. There are clips of shopping centers with multiple vacancies and you can obviously tell many single storefronts are on the same blvd. Know what is up before you attack the validity. It is bad around here!
February 13th, 2010 at 2:20 pm
No not L.A. But …
No not L.A. But showing clips in multiple locations doesn’t really prove anything unless you show multiple sections of the same building and centers to get an idea of the percentages vacant.
February 13th, 2010 at 2:20 pm
I guarantee you …
I guarantee you ain’t in the Los Angeles area. If you are then you are blind.
February 13th, 2010 at 2:20 pm
Anyone can go …
Anyone can go around town and pick a spot here and there and make it look dramatic. Im in california in the hardest hit housing bubble in all of california and the U.S and its business as usual here in my area.
February 13th, 2010 at 2:20 pm
Today I went …
Today I went outside on lunch to Ruchi(Indian Restaurant ) out of business , then went to Pattaya Thai (Again out of business)..damn I thought atleast food business will be safe..