Looking for some depressing news to read during lunch? See below.
Gene Sperling, top economic adviser to the Clintons, argues today in a Bloomberg column that the economy may be in for double-real-estate-bubble trouble.
That’s right. Not just one deflating bubble. Two.
We all know about the recently poppped residential real estate bubble, but is there a second commercial real estate bubble that is on the brink of bursting, too?
"[W]e may face double-bubble trouble for real estate and the economy," writes Mr. Sperling. "Because much of the current construction received the green light several quarters ago when the economy looked healthier, the worst might still be to come."
Read more here.
