What Benny The B Conceals!!!!!
Silicon Valley ‘Bloodbath’ Leaves Buildings Empty
Jan. 5 (Bloomberg) -- Silicon Valley is beset by the biggest office property glut since the dot-com bust, leaving the U.S. technology hub with empty high-rises and office parks that make it impossible for landlords to sustain average rents.
More than 43 million square feet (4 million square meters) -- the equivalent of 15 Empire State Buildings -- stood vacant at the end of the third quarter, the most in almost five years, according to CB Richard Ellis Group Inc. San Jose, Sunnyvale and Palo Alto have 11 empty office buildings with about 3 million square feet of the best quality space.
“There is a bubble bursting in much the same way as the residential market burst,” said Jon Haveman, principal at Beacon Economics, a consulting firm in San Rafael, California. “None of those towers will fill up anytime soon.”
Silicon Valley BLOODBATH??? Empty high rises and Benny The B tells ya the recession is over?????
Do you think George Washington or Thomas Jefferson would have taken salaries if government were running the equivelant of a $2 Trillion dollar deficit..twice its receipts? Do you think they would have bailed out their banker buddies and allow the rest of the nation to swim in a Bloodbath????