Tuesday, February 19, 2013

Sequestration is already here

Wells Fargo Econ Group was out with a write up yesterday covering which states were at the highest risk of Sequestration related negative business impacts. The city next to the cotton field I grew up in was number seven on their list. Growing up, a lot of friends had parents who were highly trained engineers, they built massive weapons systems and space exploration systems, and cars ;-). Talking with folks back home recently indicates that Sequestration effects are already being felt - weeks have been cut to 4 days, early retirement buyouts are being offered, and real estate owners are trying to hit the eject button.

Someone needs to put out a nice exposure list of properties most likely to be impacted by sequestration.


crabsofsteel said...

who needs sequestration when you have Countrywide Commercial Mortgage? In case it slipped by, two MLCFC deals AM classes were shorted interest this month. Who ever bought 07-9 AJ last month for $80 must be having a difficult conversation.

Anonymous said...

You could start the list by looking at Vornado's Virginia portfolio; anything in Arlington is at risk.