Am I going to see yet another "once in a lifetime" event that fucks over the finances of everyone that isn't "too large to fail"? I've only had at least three of those in as many decades if not more and I'm not even 40 yet!
Anyone else watching the Commercial Real Estate market imploding?
These banks have loaned $900bn of loans that were due to be repaid last year. Instead most of the loans were “extend and pretend” - the banks said “we’ll give you another year to repay”.
Unfortunately as anyone who has seen NYC or SF office buildings knows - they are virtually empty and NOBODY wants to go back to these democrat cities.
Maybe they can house some of the violent immigrants in them? Maybe they can repay these loans?
Maybe they can house some of the violent immigrants in them? Maybe they can repay these loans?
They're not up to code for residential use, and since the migrants are living off gibs this would just be a roundabout way of bailing out the banks. I wouldn't be against that if the taxpayers in deep blue hellholes had to foot the bill instead of everyone else, but we all know it won't go down like that.
Zero hedge had an article about this a few days ago. The TLDR is in order to make it economically viable to transform these buildings into residential units the total cost of the building would have to drop by about 50%.
Am I going to see yet another "once in a lifetime" event that fucks over the finances of everyone that isn't "too large to fail"? I've only had at least three of those in as many decades if not more and I'm not even 40 yet!
They wouldn't be able to afford another economic collapse. There would finally be a reckoning.
Anyone else watching the Commercial Real Estate market imploding?
These banks have loaned $900bn of loans that were due to be repaid last year. Instead most of the loans were “extend and pretend” - the banks said “we’ll give you another year to repay”.
Unfortunately as anyone who has seen NYC or SF office buildings knows - they are virtually empty and NOBODY wants to go back to these democrat cities.
Maybe they can house some of the violent immigrants in them? Maybe they can repay these loans?
So is this like a Detroit situation where these cities will empty and become post apocalyptic wastelands?
They're not up to code for residential use, and since the migrants are living off gibs this would just be a roundabout way of bailing out the banks. I wouldn't be against that if the taxpayers in deep blue hellholes had to foot the bill instead of everyone else, but we all know it won't go down like that.
Corporate valuation includes real estate, so if the office is worthless, then the company's value drops like a rock.
Zero hedge had an article about this a few days ago. The TLDR is in order to make it economically viable to transform these buildings into residential units the total cost of the building would have to drop by about 50%.
The economists and investors I've been listening to have all been very adamant about buying farms and learning to prepare and preserve food.