Mom is in commercial real estate. Her owners have 14 buildings in the state. They couldn't pay their interest on their variable late loans starting in March. Well 13 of the 14 buildings are now going to the bank. Commercial real estate is just beginning to gain some steam to nosedive.

The past two weeks I have spent hours every single day at work dealing with incompetence with every single truckline we use and companies we buy from. From missing pallets to missing cases of product, to damage and absolute disrespect in how poor of quality the work is. For example all these companies are now shipping their product in amazon boxes so the only form of discerning the products is based on their handwriting. The people doing the stacking are either new, retarded or don't give a chit so it's an absolute nightmare for inventory. Products sent on destroyed pallets, hiding damage by turning the damaged areas inside and rewrapping pallets.

All the truck drivers are telling me all the warehouse and dock guys are quitting, trucklines being bought out, firing those truck drivers to bring in their own, and then trying to rehire the one's they fired for part time. Truck drivers having a war with companies and their warehouses over who's responsible over damage and missing stuff so everyone is taking pictures, videos, and constant attacks by dispatchers telling me I didn't note things on the BOL(receipt) and I'm lying so I take even more detailed notes and pictures of everything.


So basically the past week I found out commercial real estate is finally starting to crumble, and that society is crumbling via supply chain and trucking because people aren't getting paid enough, work environments suck, people are depressed or incompetent and are offloading the issue to the next person on the chain. I've never seen anything like this chit where it's every truckline and every company on the verge of collapse because their quality control is....completely **** quality


Clown world in full effect boyos.

Remember, you live in Chicago. Chicago is an awesome city, but this particular recession will hit it hard.

Just because some Commercial buildings in Chicago are 50% empty doesn't mean the rest of the country is going down the tubes.

Unless your employer is a family business (that someday you'll inherit) there's no point in working hard.


The best thing to do is protect your mental health by not taking things too seriously. Keep family and friends close by, because sh/t is gonna hit the fan soon.

On spread

It isn't just Chicago. I'm saying 13 of their 14 buildings in IL chicagoland area are now going to the bank. Their largest commercial real estate property in Atlanta is going to the bank. The difference is that all of this takes a very long time which makes it seem like commercial real estate is just fine still. It's not fine anywhere. The only buildings that will be fine will be the Class A.I work for a family business thankfully. But when you have that mindset of "who gives a fuk" it really starts a domino effect in society. That's exactly what a communist society is like in terms of work environment. Demoralization.

Thisx100000000


You people have not seen anything yet. The worst is coming and this society is not ready for the hurricane thats coming.

It's ok OP because no mean tweets

great advice. always lulzy how serious some people take their jobs, they either quit/get fired and then are replaced so effortlessly by their bosses like they were never even there.

OP...can you elaborate on the trucking issues and how the one in the news "yellow" is over a billion in debt. that can't all be damaged goods gotta be some financial shenanigans right?

The news tells me the Biden economy is booming though lmao.

Office is fuked, so a city like Atlanta which has a lot of office towers will also have issues.

But Commercial Real Estate is a much larger thing than just Office buildings. Multifamily is still fine. Most retail is still fine. Industrial still fine.

If we see a prolonged economic downturn these markets could correct, but overall Commercial Real Estate is not close to having systemic issues.

Didn’t know we were living in a communist society.

Fuark. When did the means of production get transferred to the proletariat?

Missed that part of the transition.

Well, commercial real estate failing is less symptomatic of overall decline and more a predictable reaction to WFH reducing the demand for office space

You need to expect screwing everyone over outside of family business. You're out of sync if not

There's a difference between taking a job super seriously, and just being competent. That mindset directly destroys society. Of course that's what happens in economic distress and a corporate noseburg operation raping employees. But it's a domino effect that will take root eventually and all of your comforts and things you wouldn't think would be an issue start showing up.

the trucking issues in terms of my job are just the complete destruction of quality control. When every single order I received the past two weeks had tons of issues that simply are 100% avoidable by just not being a complete degenerate, then something major is up.

Like I said, there seems to be a major issue in terms operations. So from what I am seeing, people aren't getting paid enough, operating costs are much higher (think gas, maintenance, etc), trucklines are taking literally anything they can carry which I'm sure they are barely making money of some of these, if not losing money. So all of these small freight companies are getting wrecked and bought out by bigger ones, then treating those truckers like chit.

This freight market is fukked right now and I don't see it getting any better. If it keeps getting worse then chit is going to hit the fan.

lol @ misc advice: you are stupid if you work hard for your employer

so what are the other alternatives?

and are they actually realistic?

and if everyone took that advice, do you actually think it would be a net positive for society? or net negative.

Never works hard crew checking in.

Also always steal what I can from the contractor.

That’s the way you have to do it these days.

Pretend to be doing something when the man comes by, then back to doing nothing.

There's no way you're that retarded that you came to the idea that I said we are actually in a communist society.

Shouldn't you be abusing pills and being an alcoholic?It's more than that. WFH doesn't affect commercial real estate that much right now because most businesses are still under contract. However, those that do come to their end of lease date, aren't leasing again because of that. So cashflow for these buildings are getting wrecked or will be wrecked. Then you have a lot of these buildings on variable rate interest loans. That's why everything is getting stressed tf out because paying 7% interest on multi-million dollars properties is unsustainable.

Class A buildings are the desirable one's now (basically the newest buildings that are the best) simply because they're trying to entice people to come to the office, plus if they're going to pay for office space they want buildings where they don't have to do major maintenance and building projects on in which class B and class C buildings need. It's very costly.

Yet they'll complain about the effect that comes from that exact behavior they're perpetuating that's causing societies problems lmao. Only on the misc.

It's like the stealing epidemic. You won't get caught stealing anymore and can get free ****, so why not steal? Everyone else is stealing so why don't I just steal too?!

Thankfully I'm not at that mindset and I'm doing completely fine in life, not in debt, close with my family, have good relationships, have my health, etc. I just can't help but sit here and see all of this nonsense piling up from every corner like a volcano about to explode.

It's going to get dark, and probably after the elections.

You're still only talking about Office. Commercial Real Estate is much larger than just office, and most of the sectors are still holding up just fine.

yeah, maybe if you are a weak man who can't figure out how to get it done without stealing

Well yea, that's one of the major sectors and ties in to a lot of the others. You think retail is going to be okay? Lmao.

The only thing holding the commercial real estate together as a whole is....time. With high interest rates who is going to buy overvalued buildings with a dying economy? They won't. They'll wait for them to go to the bank and then they'll buy it up cheap.

Retail is ok now(maybe showing some signs of distress), but this will impact it like any other downturn. The buildings in poor areas with crap tenants will go vacant, and many people who purchased during the last couple years will have to sell or lose properties to the bank. It's doubtful that your local McDonald's will go out of business or your local Starbucks.

WFH is only one of the factors, commercial real estate has been on the decline for damn near 20 years. When was the last time any of us visited a mall?


The last time I visited the mall was in 2009.....

Yes. Things are gonna be like 1919 again

What types of ommercial real estate are these going under? I've been told due to work from home and other remote working there is a lot less demand which would explain a lot. I've seen office buildings that just sit hardly being used.

Trucking industry just sucks. I was a driver at one time. The fleets recruit people in with golden carrots on sticks and run them ragged AF. They expect you to run OTR for the first 2 years, being off 1 or 2 days a month. Sure you can make decent money but for what you have to go through, it gets old fast. Warehouse workers it's pretty bad as well which would explain damaged freight and supply problems.

During the pandemic the working class saw NEETS and other bums get pandered to and a lot of people get paid hand over fist (PPP loan scams) while the working people got shafted over. A lot of incentive was lost to work. I'm not in the fields OP is but I can relate that nobody gives a damn anymore.

You work just enough to outperform your peers, which is easy from what I can tell. It’s pretty simple

the point of working hard at a job isn't so that your employer benefits, it's so that you develop valuable skills that increase your worth on the open market.

if you gain enough skills, leverage that for a higher paying job. rinse and repeat until you get to your desired compensation/lifestyle situation.

just lol @ doing the bare minimum until your employer cucks you so you can continue the cycle at your next employer. what a life.

Commercial real estate is fuked in SF as well because of WFH, and those who do go in the office only go in Tues/Wed/Thurs. They say it's like a ghost town in SF on a Monday or Friday.

I feel like people are just bumping work to the next person as well and people aren't taking responsibility lately. You have to escalate, which I hate doing.