Dec 31, 2010

Howard Davidowitz sees continued problems for CRE and community banks in the US

In the end, what do you do with the retail space? This is going to be a huge question for retailers in the next ten years. That's why Wal-Mart is starting to build smaller stores. That's why Wal-Mart is building more overseas than they're building here.

[Commercial real estate landlords] already have occupancy problems, rent problems and everything else right now. I don't think commercial real estate problems are fixed by any means. That's why we're going to close hundreds of community banks going forward.

~Howard Davidowitz, chairman, Davidowitz and Associates, interview, December 31st, 2010

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