Zeev's Turnips Patch-No Politics (ZEEV)

[punkle]

Had a nice long conversation yesterday with a guy who has been in commercial real estate in Silicon Valley for the last 10 years or so and he sees things getting much worse. Price per square foot has gone through the floor and there are no tenants to take the 25% vacancy that has been dumped on the market. Office space that used to go for $3 per sf / month in some cases is going for 10 cents. Next week, HP is supposed to dump another 1 million SF of office space on the market as well. The best I get from different sources in different tech industries is things are at best stabilizing and many think it's getting worse. Cisco was also mentioned as a company with tons of extra space that they can't lease.

Nothing to bet the farm on but another piece of data.