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Commercial real estate bubble comes to Georgia farm country.
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Local Comments (0)
Youtube Comments (28)
LoveLifeLoveFreedom Says:
I used to love to drive through this part of the country on my way to FLA. I can't stand it now and it's so expensive. I think it cost us something like $129 for a night in a cheesy Microtel.
imperialcrypt Says:
Whats worse is the probably aren't Americans either who created these buildings, the labor must definitely may of been done by mexican illegals. America has robbed from the inside by corporations.
EconCat88 Says:
Thanks for watching.
USZombeeKing Says:
American history as we go...well documented and preserved!
EconCat88 Says:
Yeah, the American taxpayers, foreign sovereign funds, and foreign banks are the suckers. However, there are many Americans that have lost their entire life savings building various types of real estate pre-bubble. We just don't know if an individual or corporation was involved in building this bankrupt plaza.
yaplonglong Says:
Econcat - They weren't idiots, they made millions in the process - commissions, bonuses, kickbacks, under the table, referral fees, consultant fees, loan interests ..... they just left the tax payers holding out the bag! So you are real sucker. Not them!
EconCat88 Says:
The former billboard videos actually are linked to this video on the bottom right side of this page.
EconCat88 Says:
One can't help but notice the empty billboards nowadays. From Macon south to Valdosta, there are as many or more empty signs than signs with ads.
TheChuck624 Says:
We vacation on Hutchinson Island every June and drive down from Illinois. I never paid much attention to the blank bill boards or the empty strip malls until my last visit and mostly because i became interested in your videos. I have noticed the real estate guys have been sending more and more condo sale e-mails with the pictures of empty condo when previously they had been occupied. Things are not getting better.
EconCat88 Says:
I made a couple videos about those GA signs in June 2010. I don't know if I'll make it to the other side of Florida.
TheChuck624 Says:
On my last adventure down to Florida I noticed hundreds of bill boards that were built along highway 75 but there were mostly blank. Again, putting the cart ahead of horse. Hey Econ, are planning to check the Treasure Coast area anytime soon?
slobomotion Says:
Glad I subbed ya! Looking for to it. (gulp!) Have you seen clevelandmarko's video about his dumb section 8 tenant? It is . . . sobering.
EconCat88 Says:
Dark humor is welcome here. You will probably like what I found and recorded at the next highway exit.
wilatemodel Says:
ok girl,...looking forward ot it!!
slobomotion Says:
Ah, me, too, German blood and Slovenian. I have Pennsy Dutch roots which make it even WORSE. No one wants my dark humor and I am considered some kind of FREAK for liking sex?!!! They just don't get it! Oh, well. Marko has this amazing clip up about a dumb tenant he had. Maybe still has. It is a scream! I will try to find it and send it to you. Brace yourself!
wilatemodel Says:
ya,..maybe,..i got a LOT of German in me,..i will check out those channels hun!
slobomotion Says:
It's been very interesting making virtual friends this way. I don't do social media since last year but have been a fervent networker since the '70s. It's turned into some very pleasant and sometimes profitable connections at times! I like this person's channel and recommend clevelandmarko, also. His stuff is very practical but he throws in some humor and socio/economic commentary, too. We think we might even be very distant cousins or something, too! Wild, huh? xo
wilatemodel Says:
i think we subscribe to a lot of the same channels,..great minds think alike. cheers.
jvolstad Says:
These are commerical condos. The builder wants to sell them vs. leasing them out. A total of 42,000 feet available. Price? Between $155 to $185 a sq ft. They were built in late 2008. Buy a unit and turn it into a Cat Store. LOL.
slobomotion Says:
Tremendous waste of resources and taxpayer money, ultimately. I walked away from a potential job selling Marriott timeshares outside Paris (far!) near the Disney stuff. What a dumb idea, recreating a famous village not too far away! Why not just stay in the actual village in France? And the cost of taking the train into Paris without a commuter pass is a total ripoff! It was a plastic horror. Made NO sense to me. Wasted a day, and yeah, a lotta train fare!
WhatTheHeo Says:
They should tear it down and process all of it for raw materials.
bozeman14 Says:
i am so outraged. "this is the result of people buying homes they could not afford" what you have shown are: roads to nowhere unoccupied professional space unoccupied retail space unoccupied industrial space and this was only the result of people buying property beyond thier means? this is hogwash. why is the popuation on the hook for this developer and banking/investor fraud?
kcirdrab Says:
Matter of time before the looters & scrappers pick it clean, unless the site is currently being watched by the hotel's security, if so it'll start happening when that goes bust & the staff go
slobomotion Says:
Uprated.
jvolstad Says:
Maybe turn it into a Walmart? I spent many a summer in GA. Fort Gordon just outside Augusta. Good times.