Here's an example of what I was talking about yesterday: the Port Authority issued some bonds for an office building (no where near the port). Can't we let private citizens decide if and/or where we need more office space? Why do taxpayers have to help? Let these builders/developers get a bank loan.
Crain's Cleveland posted yesterday some information on office buildings in the `burbs. The Wall Street Journal posted some vacancy rates for Cleveland. It seems pretty high and is rising (2Q2006 was 17.9% and 2Q2007 was 18.1%). Why build rather than buy? Is it that much cheaper? (Never mind the County's $35MM asking price for their E9th street screwup.)
(Full disclosure: I work for a bank. And while I may not sound like it, I love my town, Cleveland.)
