The ENTIRE Mortgage Market Collapse of ’09
Posted on | December 23, 2008 | 11 Comments
As stated by Gerald Celente in the video, there are many parts of the mortgage market that have yet to tumble. Celente has been correct in many of his past predictions, so he is a valuable reason even if it is doom and gloom. Retail establishments filing for bankruptcy will lead to the commercial real estate collapse of ’09.
In 2009, we will see retail chains collapse including MAJOR names. The commercial market in real estate is very likely to collapse with all the vacancies that will occur in the commercial industry. Over expansion and over optimism have caused stores to grow and expand at too quite of a rate which will be the downfall of many large retailers. Building 200 new stores throughout the country in a year was a horrible business model for many retail establishments. The lasting effects will be that there are going to be empty buildings all over the place.
With the commercial real estate market collapsing in 2009, we will see a great deal of turmoil in all the financial markets. The one positive that should come out of this is that we put a bottom in the total collapse of the mortgage industry as there should be nothing left to fail. Hopefully the government realizes this and will let these companies fail and we can start from scratch with the strong companies that made sound financial decisions. It is also likely that mortgage interest rates will continue to decline as there will be less money in the economy.
What major retailers have gone out of business in your town? Which ones do you think will fall after the Christmas holiday?
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11 Responses to “The ENTIRE Mortgage Market Collapse of ’09”
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December 23rd, 2008 @ 2:48 pm
This is some scary stuff. Thanks for ruining my Christmas…well, it’s off to buy canned goods for me!
December 24th, 2008 @ 9:27 am
I never thought that we would see all this in our life time. Why are the big wigs using our hard earned tax money to bail out the auto industry? Unfortunately the forigen car companies were willing to work with the public on deals, etc. There are 2 many people sitting on their duffs complaining about the way our goverment works, well get up lose some weigh and get with it, before you and your children become victims. As a matter of fact we are victims just sitting here hoping that the greedy people are going to help, BULLS____! I’m a small business, not doing bad, I just want to make a living, we do a lot with the little money I charge.
December 24th, 2008 @ 9:32 am
The real estate is also way out there in our tiny state of Delaware we have the highest rent. back in the 60′s wifes were able to stay at home & raise their kids we cannot today, because mortgage and car companies got greedy. Why do you think the gas went so high for so long. So they could get their money in their pockets and laugh at us when the economy falls. Damn it people stand up or we will not have a country because the other countries own a lot more in this country and they will take over, lets stop it before it gets to out of our grasp.
December 24th, 2008 @ 11:40 am
We can blame all we want to it won’t do any good,the damage has been done. We the victims of an elaborate scheme of the mortgage lending industry,coppled with greed from high ranking CEO’S,in cohoots with loophole finding attorneies,who have literally torn our country apart. I beleive certain people in the seante perpetrated this dimise on the ederly,the low-income,the less educated,and the minority to get us to re-mortgage our homes all over the “UNITED STATES”,knowning the kickback was going to be foreclosures on homeowners homes. This is truly the failure of our government to allow such corruption in our United States.
December 27th, 2008 @ 10:19 am
this has been coming for years and shame on all the powers that be that let this get to this depression-heading level….the rising energy prices blamed on every reason under the sun, the ridiculous house values skyrocketing over night, the sub-prime lenders falsifying loan after looan and running out the back door laughing before the ink dried on mortgages that people had no business taking out on their income and Dumbya standing therre telling us the “economy is fundementally sound” as late of Oct 2008!!!! This house of cards was doomed from the start and god help us all because when it crashes, we will all go down with it
December 27th, 2008 @ 2:14 pm
I am afraid for my children, I am afraid for my grandchildren, how dare our government ruin their future their dreams and their hopes> I have followed the economy very close and I believe what this article and it is not a matter of if it is a matter of when We can try to pretend it is not happening but that is only denial. Re mortgage your home if you have the equity at the lowest rate you can get, prepare for your survival. We are in serious trouble. A man from the first depression said we woke up one day and everything we had was gone, but the one solace we had was we were all in the same boat. Families come together in troubled times, settle any disagreements and be prepared to face this together because in the end their love and strength we will need from each other.
January 1st, 2009 @ 4:29 pm
Gerald’s voice NEEDS to be heard round the world, especially on Capital Hill- while the investment bankers were creating the greed-driven derivatives to connect with the mortgage backed securities on the residential side, they were also including commercial mortgages as well- The residential mortgage meltdown we have gone through the last 18 months is just the tip of the iceberg of what we will be facing in the commercial mortgage market meltdown in 2009(the commercial iceberg is approx. 3X greater than the residential iceberg)-Gerald is right when he says the glutt of commercial property was driven by the corporate business model Wall Street built over the years of “build it and the investors will come”- Unfortunately, the only route the Feds will be ablle to take is to print more money for the commercial market bailout- Be prepared for a “$3 TRILLION” bailout in 2009- Its ashame the government continues to turn its head to the debt issue- At some point the payback will have to be made and that will be at the expense of our children and future generations to come-
January 8th, 2009 @ 8:41 pm
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March 12th, 2009 @ 10:28 am
Perhaps Mr. Calente should go to D.C. and teach them what he knows, or let them teach him if he’s wrong. Spewing negativity in the wrong place only fans the flames of gloom, despair, and panic. The government needs to hear from us or they do what they think is best. If someone knows something they don’t, don’t blame them for mistakes. Speak up to the right people. None of us out here knows everything that’s going on, I certainly woin’t profess to know even a small portion. If I believe everything I read or hear, without concrete facts, I too would feel only doom. I’m trying to be optimistic and I wish you could all do the same. Things wouldn’t be quite as bad as they are, the market wouldn’t have crashed as badly as it has, if we wouldn’t only listen to the negative talk. Try optimism for a few days and see if it doesn’t feel better, and then try for a few days more, and then keep going that way. Maybe it will become your new outlook