Hold her on the road

It has been a while since my last blog. The reason is that there are not too many positive things in the commercial real estate world to write about. Banks are taking loan prospects to the church door and dumping them.
Some times it is difficult to understand this. The reason must be that banks do not want to come right out and say no. They think it is better to blame a refusal on an often fabricated finish line trip by the prospective borrower than to admit that they are not lending. In many cases the Fed will not allow them to make or renew certain loans. Bankers blame this on the Fed not on their flimsy underwriting during the hay day.
The difficult thing about these times is that there does not seem to be the spark necessary to make people feel good. During past difficult times there was always the work ethic. If you worked hard and smart enough you could get back on the road. Things are different now and the reward of hard work often seems to be spinning wheels.
Things will get a lot better in the future. The population is expanding. The good thing about the week dollar is that our manufacturing sector is cranking. It seems that the politicians really get it and that a plan to work out the deficit will evolve.
If we do feel a little down, all we have to do is read the newspapers or check out the news on TV to realize our good fortune.
It is difficult to determine whether or not getting up at 4AM to see a royal wedding is a good or bad sign.