Fear And Loathing In The Commercial Real Estate Industry

In most large American cities there are office buildings which sit half finished in their financial districts. There are still huge cranes next to some of them. If the construction on a site ended months ago, there is nothing left beyond the skyscraper skeleton and a security fence to keep vandals out.

As business such as law firms, investment banks, car companies and retailers cut jobs and move to less expensive offices, the commercial real estate industry is collapsing with astonishing speed.

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Stocks mentioned: Citi (NYSE: C), Morgan Stanley (NYSE: MS)

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