Some people are now saying that the recession has hit its lowest point and is just about done. Actually, on MSNBC they're supposedly telling people that the recession is over. Little old me has been telling people (in my everyday life) that this is all nonsense because commercial real estate is due to crash tout de suite, given all the problems in the retail sector.
Et... voilà! Reuters- '', the second largest U.S. mall owner, filed for bankruptcy protection on Thursday in one of the biggest real estate failures in U.S. history.''
It sucks to be right.