September 26, 2008
Whither Commercial Real Estate?
NP: John Cage, 4'33
The headline in their blog feed made me hope that the Tribune story on JPMorgan Chase buying Washington Mutual would touch on the massive number of bank branches Chase now has. Unfortunately, it was just the AP story. Both of these banks have been growing their locations like weeds in the last two or three years, and I can't imagine they would be able to keep them all.
So, when residential real estate is tanking, will the sudden supply of storefronts end up affecting the commercial market in a bad way if there isn't sufficient demand? Do I even want to think about it, given my gut feeling on what the answer is?
UPDATE: Now the Trib seems to be linking to a more specific article.
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