D.C.-area developer Jeff Neal gives the Huffington Post Investigative Fund a tour of empty commercial properties just blocks from the Capitol. He says we were, “drunk on a binge of easy credit and the bartender (the market) took away the bottle (credit).”
BLOGGER COMMENT: Private equity groups are looking to double down. They are building massive cash war chests to acquire properties from banks and distressed sellers for a fraction of replacement cost. Should the government create a false bottom or allow the market to find the true bottom where transactions can take place to eliminate the “Zombie overhang” on the market?