On Mon, Jul 20, 2009 at 6:56 AM, Gruss G wrote: > > > * commercial real estate > * credit cards > * prime mortgages > * business loans > > You can expect cycle 2 to begin in a month or two. >
De-leveraging is a bitch. Commercial real estate is already getting hammered in San Diego. High end properties are starting to go into foreclosure. I've heard stories of people who were making $500K a year with $15K/mo mortgages, spending $500K a year, who are now making $300K a year and still spending $500K. Those folks are screwed. The high end auto dealerships in town are also seeing huge returns of financed vehicles - Bentleys, Ferraris, etc. The wannabe rich pretenders are dropping like flies. Membership at my gym is down 25-30%. It isn't a cheap place but it isn't a country club either. The Hyatt next to the gym has had to cut summer rates from $225 last year to $105 (on Hotwire) this year to stay booked in prime summer tourist season. Deflation, anyone? ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Want to reach the ColdFusion community with something they want? Let them know on the House of Fusion mailing lists Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:300650 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=11502.10531.5
