Broward County's Commercial Real Estate Bust Illustrated
Anybody else notice how buildings seem to be emptying around here? The following Photobucket slide show was posted on a Yahoo Finance messageboard, and it's a veritable tour of the desolation row that Federal Highway is becoming.
It was shot Monday, and here's the photographer's explanation of it:
I took a drive this evening from 5.30 pm - 7.30 pm and shot over 200 pictures of Florida real estate in crisis. What is really amazing if you notice the time and date on each picture . I was able to shoot a picture about every 45 seconds while all alone driving in traffic including stopping for traffic lights and gas and parking in a safe place each time for each shot . Everywhere you turn something is for lease or rent. ... I pretty much only shot the right side of the street because I did not want to do any u turns. Some pics I shot across the street. This does not even include office buildings.
... This is Fort Lauderdale Florida. The Gold Coast, The Venice of America the Yachting capital of the world folks.The pictures start at the Fort lauderdale beach on Sunrise Blvd. and go west to federal Highway (rte 1) north to Pompano Beach about 8 miles and finish in a random warehouse district off the main road . After that it got dark and I had to stop.
You will see Exotic car dealerships Burger King, Wendys, Fuddruckers, Hooters, Pier one, furniture stores, restaurants, clubs boat dealers, Business that have been there 20 + years, Supermarkets, Saks 5th avenue ( big white building in beginning ) Macks groves, Flaming Pit, the old 50's diner. A Ford dealer and a Dodge dealer. A golf course in beginning of slideshow . All GONE in just one 8 mile strip.
Keep in mind that this was posted on a board for an ETF that shorts commercial real estate, but the slideshow elicited a lot of responses. Among them:
"Thank you for the breathtaking post... I found the experience of moving through these images very emotional... this is the wreckage of... us. The wreckage of a consumption binge that we all participated in to varying degrees. I don't know whether to throw up or cry."