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Commercial Crashes in Blue Cities

A major hurricane started on commercial during Covid-19 lock downs and it's never come back in many places. Office space is a nightmare and even small commercial we own is worst I've ever seen in 40 years. Small business in So California is generally just buying you a low paying job. Most can't turn a profit even if you charged them no rent do lowering the rents doesn't even work. Funny Commercial Zone's are now permit ing residential development. The same with small industrial unless it's big enough for large warehouses. The Interweb and virtual employment did to much commercial what the Automobile did to the horse and buggy. Lmao )
 
So no financial stress, economic downturn, or loss of revenue in Republican ran commercial districts?

That's amazing......
 
Surf Cat said:
So no financial stress, economic downturn, or loss of revenue in Republican ran commercial districts?

That's amazing......
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DEMOCRAT Los Angeles County but more blame on interweb and peoples shopping and working virtually from home. Not blaming Democrats on our Commercial it's a combination of factors including crazy high insurance coverage and small businesses giving up. Technology is the killer many simply don't need real estate to operate anymore.Thank god there no mortgages they wouldn't debt service much anymore with mortgages. I will die with them or raise one and build apartments in the future if there's a demand.
 
glenn walker said:
DEMOCRAT Los Angeles County but more blame on interweb and peoples shopping and working virtually from home. Not blaming Democrats on our Commercial it's a combination of factors including crazy high insurance coverage and small businesses giving up. Technology is the killer many simply don't need real estate to operate anymore.Thank god there no mortgages they wouldn't debt service much anymore with mortgages. I will die with them or raise one and build apartments in the future if there's a demand.
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Commercial building vacancies is a nationwide crisis... not just Democratic city ran ones.... that's ludicrous. Numbers posted in the thread from Democratic cities are high..... but if compared to Republican ran cities, the population and per capita would have to be considered as well.

It's not a Repub vs Dem deal.... we are all Knee Deep in it folks.
 
Surf Cat said:
Commercial building vacancies is a nationwide crisis... not just Democratic city ran ones.... that's ludicrous. Numbers posted in the thread from Democratic cities are high..... but if compared to Republican ran cities, the population and per capita would have to be considered as well.

It's not a Repub vs Dem deal.... we are all Knee Deep in it folks.
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HELLO I SAID it's not a Democrat thing but technology has killed it and small businesses are no longer able to pay rent. About 25 years ago it first hit appraisers as most had small offices or shared office space but by 2010 most worked solo out of their homes. Imagine how many small businesses today operate out of a house or converted garage. Millions of businesses.
 
glenn walker said:
HELLO I SAID it's not a Democrat thing
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Settle down General...... I shouldn't have hit reply to your post. It was more of a general statement to the thread.... don't hit the red button and send the nukes... abort...Abort!
 
Blue-Red-Pink doesn't matter the markets changed and the need for commercial spaces changed and we will see many converted to other uses or even raised. There are some that even if it was offered for free there are no takers. A Newer High Rise in Los Angeles is 100% vacant the Chinese developers left it and flew to China or Taiwan. Even at a 50% hair cut and 80 percent occupied it wouldn't ever debt service. To raise it cost more than the lands worth and we're going to see empty cities and empty buildings.
 
I'd been saying my commercial tenants were having a hard time paying the rent since Covid. I knew commercials values were going down.
Commercial appraisals have been less vocal. Don't know how they can do appraisals with values dropping so much. Can't imagine the liability and blame for "bad" appraisal.
And government regulations on business and landlords making situation worse.
My big box tenant renegotiated new lease this year and I kept rent same for another 5 years. Better to get rent than vacant.
 
gregb said:
One Trump mayor finished in Miami

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Democrats end 30-year losing streak in Miami as Trump-backed candidate falls short​

It took nearly 30 years, but Democrats finally broke their decades-long ballot box losing streak in Miami, Florida, the city known as the nation's "Gateway to Latin America."

Democrat Eileen Higgins, a former county commissioner, defeated Republican Emilio Gonzalez, a former city manager, in Tuesday's Miami's mayoral runoff election, according to the Associated Press.

President Donald Trump endorsed Gonzalez and this past weekend took to social media to emphasize that Miami's mayoral election "is a big and important race!!! Vote for Republican Gonzalez."
 
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