Commercial Real Estate Warning

Back on 2/6/09, 3/23/09 and in private conversations, I have warned about the impending commercial real estate collapse. Here is another news story:

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=ahCDwyRZkAUI


March 26 (Bloomberg) -- Billionaire investor George Soros said U.S. commercial real estate will probably drop at least 30 percent in value, causing further strains on banks.

“Commercial real estate has not yet fallen in value,” Soros, speaking at a forum in Washington, said. “It is inevitable, it is written, everybody knows it, there are already some transactions which reflect and anticipate it, so we know, they will drop at least 30 percent.”