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Monday, April 5, 2010

Government Destroys Economy Then Steals Bargain Basement Real Estate

The government is taking advantage of the abundance of space in newly constructed buildings going for bargain prices. As leases are up and the government embarks on renovation projects, it is moving agencies into offices in such areas as NoMa, a neighborhood near Capitol Hill that was up and coming before the financial crisis ratcheted down demand for space.

"This is an example of how the government is giving space back in one area while absorbing space in others," said Rob Hartley, research manager for CoStar Group, a real estate research firm based in Bethesda. "The government is an economic driver" in the commercial real estate market.

The GSA decided to sell the 46-year-old former NIH building at 7550 Wisconsin Ave. in Bethesda eight years ago. "We have a process we have to go through before we sell a building. We have to offer it to homeless housing, to local government," said Bob Peck, commissioner for the GSA's Public Buildings Service.

Bethesda's vacancy rate has more than doubled during the recession, to 14 percent in the first quarter of 2010 from 6.6 percent in the first quarter of 2007, according to Jones Lang LaSalle. It has lost Chevy Chase Bank's headquarters and Hanger Orthopedic Group, and will lose CoStar later this year when it relocates its headquarters to the District.
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2 comments:

  1. USA Today is great for comic relief though. Just as a glimpse of what the sheeple are absorbing as truth.

    ReplyDelete
  2. The growing homeless.
    FEMA camps will have their role as the crisis expands as the Americans turn on each other in the fight for their jobs and incomes .

    Think it over ,what is their purpose? And how will it all work out in practice ?

    Those whose houses are foreclosed and the unemployed who cannot afford rent will become like the millions of small farmers and sharecroppers and unemployed thrown off the land and out of the factories in the last depression .
    (Read The ‘Grapes of Wrath’ for background ) .

    Homeless “Okies” black and white “tramps” that need to be “moved on” as a burden 'drones" on “society" and law and order.
    Their tent cities and camps will be full of embittered dissatisfied victims and will be seen as a source of lice ,Hotbeds of dissidents , anarchists ,’wobblies” socialists even Commies and Terrorists. A source of crime and theft and ruled by drug gangs , “preventing” the respectable from getting on with “normal” life and economic recovery in the trailer home parks.
    The trump card will be the “war against terror“. The terrorists organising in the camps because they that “hate freedom” and the American way.
    Shovel ready make work will be promised by the government at the FEMA And the respectable will claim only the lazy and the criminals that do not want honest work and to work for their poor childrens future would refuse Fema housing and work. The respectable will only be too happy to help the police move them on, deported to do useful patriotic work at FEMA Camps.
    End of problem .Out of sight and out of mind. Back to the latest “American Idol” and “Survivor” shows.
    Is that the way of it America?

    ReplyDelete

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