I occasionally see some videos from Louis Rossman posted here.
The landlords in NYC would rather earn ZERO rent than accept a realistic rent - because fraudulent banking practices allow banks to pretend the properties are worth 'the NPV of the highest rent they ever earned'.
Officially 15% of offices are vacant. (Louis Rossman regularly shows entire blocks are empty).
Hopefully this will cause banks to mark these assets accurately instead of committing fraud....
I occasionally see some videos from Louis Rossman posted here.
The landlords in NYC would rather earn ZERO rent than accept a realistic rent - because fraudulent banking practices allow banks to pretend the properties are worth 'the NPV of the highest rent they ever earned'.
Officially 15% of offices are vacant. (Louis Rossman regularly shows entire blocks are empty).
Hopefully this will cause banks to mark these assets accurately instead of committing fraud....