Quoted: Just had a teleconference about this with my boss and a few other guys who own ALOT of commerical real estate in this country.
A whole bunch of us in commercial real estate are about to take out ALOT of loans and do ALOT of deals we weren't gonna do yesterday.
There can be alot of positive fallout from this.
Hey, we're doing our part!
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Thank you! You get it. I wish everyone did.
This is the part of the economic equation that most ARFCOMers don't understand.
If these is a loser, there is also a winner.
If 1000 homes get foreclosed on, then 1000 investors snap those homes up and either flip them of rent them. Those same 1000 people who lost their homes, are going to have to live somewhere and pay rent somewhere.
It's not like those assets just disappear. Certainly they may be worth less than what the original owner THOUGHT they were worth.....but that wasn't the REAL value anyway.