Commercial Estates

Several commercial properties in the form of malls have collapsed and closed shop, the latest victims of the recession. But they have been getting it hard for some years now and the recession proved to be the last nail hastening their demise. Consumer confidence has gone down a lot in the recent year as people tried to foresee the recession, signs of which emerged last year as the death throes of the financial markets began. The housing market collapsed with the sub-prime lending crisis and the domino effect took over, sending markets crashing one after the other. Not even the charisma and hope for change promised by Mr. Obama worked to stem the collapse and to this day, we are still seeing more of the effects of the unstable financial markets.