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The Plural of Datum is Foreboding

Via Dr. Black, CR describes Washington, D.C. real estate as “the commercial version of the subprime situation.”

Two points:

  1. CR knows better, most of the time, than to believe that there was a “subprime situation” in any sense other than “We Are All Subprime Now.” [edited for tone]
  2. Possibly more importantly, Washington, D.C., is one of the few areas that has, relatively speaking, maintained employment levels during the current recession.

If D.C. is having CRE problems, is it any wonder the rest of the country is in a jobless “recovery” at best?

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