Who Needs Long-Run Profitability?

Life is tough for everyone in a recession. Even well off arts benefactors who make their living in commercial real estate are feeling squeezed:

"If you go up 270, from Chevy Chase out to Frederick, you will see building after building with big signs on them that said: 'Space.' Or you will see ground that is not being built on where you will see signs, 'Build to Suit.' The next year is going to be very tough," Charlie said. "Those who have the ability to keep up payments will be able to make it. The government has to step in and help."

The government -- local, state, and national -- has to, and should do, NO SUCH THING.

Commercial property owners should realize that their gains from when times are good are to more than cover their losses from when times are not. And if their firms have less than zero long-run profit, perhaps their management skills are best honed in other industries.

H/T: UrbanTrekker

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This page contains a single entry by Kevin published on November 20, 2008 4:12 PM.

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