Shame on them

OK, so that how's the market question gets more difficult to answer every day. Yesterday I learned that another large office/retail building was foreclosed on. Hoping to find out more on this later, but for now, just disturbed. That's two large buildings right here in town.
Many of the companies we all thought had it all going on, are falling under these times. Mainly, they were over-leveraged and had over-estimated the tenant strength.
My theory is that we are feeling a combination of the vacating of office buildings by the State a few years back plus the economic downturn/recession. The state laid waste to many older buildings that are still standing empty. They built or had built all these new shiny buildings with little thought to what damage they would cause to local building owners and the real estate market in general.
This is a harsh judgment, but shame on them. Same thing for the city of Olympia building a new building instead of renovating an older one. I sometimes feel like our local government presence act as if they have no responsibility as citizens of our local area.
And then the icing on the cake is when they go and hire out-of-town contractors to do all the work. Not only do they trash our local buildings and abandon them, but they send the money out of the area to enrich the coffers of other cities, counties and companies.