Next collapse may be worse
The weakening commercial real estate market is braced for a bust that experts say could cause even more damage to the local economy than the housing meltdown.
“Any projects built in the last five years, especially those built near new residential developments, are at risk,” said Shari Olefson, a Tampa real estate lawyer with Fowler, White and Boggs. “I’m hearing from a lot of owners who just want to walk away, just as homeowners are turning over the keys.”