beware the second wave.

[jonathankaplan]

I was going to talk about something more interesting and cheerier, but this seems more timely. The inefficiency in the commercial real estate market is about to dump a lot more pressure on the solvency of banks, and maybe even the system (again). Everywhere I've been lately, there are increasingly more empty storefronts, empty buildings, a great excess of commercial brick and mortar. Some amount of that was created during the housing boom, in locations that no longer make sense, and the banks are going to eat those errors, and tighten liquidity even more.
And everything is going to go down again, before the end of the year, eventually to new lows.
Are businesses booming, or even, surviving well, where you live? I hope I am wrong, but I don't see it.