Well, the folly has hit the fan, fellow citizens. For so long, many of us, here, have been bemoaning the state of our country--our fellow Americans--who had succumbed to greed and wanton consumer patterns propped up by a 'false' sense of financial security tied to over-valued homes. Many foolishly and irresponsibly used their homes as ATM's. This behavior has not only helped to further ruin the natural environment, but it has also lent itself to further socio-economic deterioration.

Now, as many of us here had forseen, commercial real estate has begun to feel the pinch, as well. It's funny because it was in this very tribe that a posting kindled my thinking about the over-abundance of retail square-footage in this country. It is simply too much. Now, with the economic downturn, more and more commercial spaces sit empty, even in ritzy, downtown neighborhoods. Is this a sign that the economy is simply returning to a state of "normalcy", or are we truly slipping dangerously into depression-lite?

What do you think?

Here's a link to the New York Times article by Charles V. Bagli that discusses how the economic woes are affecting commerical real estate:
www.nytimes.com/2009/01/05...05real.html