Oh Oh:$160 billion of retirement savings are invested in commercial real estate.

[dixiegrrrrl]

STILL.
Anyone who is NOT trapped in their investments hopefully can do a passive rollover into a safe investment.

Because....
"a growing number of Americans have a stake in commercial property" because of their investments in pension plans, 401(k) plans and direct investments in real estate investment trusts."
"a rapidly rising tide of troubled loans for commercial real estate threatens the survival of hundreds of the nation's small and medium-sized banks."


Much more at the HuffPo article.....

http://www.huffingtonpost.com/2009/11/20/zombie-buildings-are-they_n_365400.html

[givemebackmycountry]

1. THAT'S

Not good news.
I just read an article about "zombie" buildings sitting empty, floor after floor after floor.
It's coming and it's going to be ugly.

[FreakinDJ]

2. I'm not worried

Got in REITs in 94

Tremendous Return so far - to sell now would be shear stupidity

In 92 - 93 there was empty commercial space all over the West, (Texas, Arizona, California) By 96, it was filled and BOOMING

[Robb]

9. REITs did well, as did everyone else, during the boom. nt

[girl gone mad]

3. CRE is down over 40% from the peak..

and still nowhere near the bottom.

[patrice]

4. hmmmmmm . . . How do you make a retirement home out of a strip mall?

[notesdev]

6. Marble floors - great for shuffleboard n/t

[patrice]

7. Lots of windows, but no green space.

[notesdev]

5. What used to be $160 billion, you mean

good luck squeezing $75 billion out of the wreckage... and even that is probably optimistic.

[Mira]

8. K&R All I know to do is check the rating of your bank, and get out if it's low.

I did, and put my retirement money into a 5 star rated Savings and Loan, in cash at practically no return, but it's "safe".
And other money into a credit union that pays 3.25 percent on your checking account if a few requirements are met each month.

I think, returns be damned, cash is king til we're through this.
Until the boils in the system are lanced and can heal, no amount of glossing over the problems will set us on the road to true recovery.

[AtheistCrusader]

10. How does one determine if a union has their pension stuck in any of this stuff?

Getting worried about my Mom. I could survive her moving in with me, but I'd rather not.

[dixiegrrrrl]

11. You contact the Pension Adminstrator

and ask.
They are supposed to be sending out reports, btw, and should send one on request.
Also you can google name of pension + investments, etc.
Unfortunately, the pension fund regulator was a Bushie, there were several stories awhile back about the non-regulation of the funds.