What PGIM analysts have called “the great reset” of values is likely to be agonizingly slow. It took six years for US office prices to recover after the 2008 financial crisis, even though that episode was centered on residential real estate. “This time we think it’ll take 10 years,” says Richard Barkham, global chief economist for CBRE Group Inc.
Reminder that the Federal Reserve has yet to sell the toxic waste they bought via quantitative easing during the 2008 financial crisis. Ten years is fucking optimistic to the point of naivete.
Reminder that the Federal Reserve has yet to sell the toxic waste they bought via quantitative easing during the 2008 financial crisis. Ten years is fucking optimistic to the point of naivete.
Well, if they do successfully manage to trigger hyperinflation, all of that debt becomes effectively worthless along with the dollar.