A while back I wrote about how I was concerned that the coming collapse in the commerical real estate market would make the residential meltdown look mild in comparison. While I would be quite happy to be wrong about this I think the first shoe has dropped with the bankruptcy of a major mall owner.
When you combine a slow economy with lots of major anchor renters dropping out the future does not look particularly bright. I’ve discussed it with other folks in the bankruptcy world and few of us see a bright future if this trend continues.