Commercial Real Estate Collapse – Midtown Manhattan
February 18, 2010 - 3:23 pm
From the October 6, 2009 PBS “News Hour.”
One sees this every day. Storefronts on Park Avenue South where overpriced restaurants sat two years ago are empty with “For Rent” signs, something one never saw in such neighborhoods. Traditionally in NYC, property changes hands in private deals, never through the posting of rent signs. With 1% down payments, commercial real estate makes the subprime meltdown look outright responsible.
Duration : 0:5:53
Los Angeles Realtor, Mike Kessler, discusses the current housing market. Visit Mike4Homes.com for all available homes throughout Southern California!