| Submit your comments on this article |
| Economy |
| Will empty offices cause the next banking crisis? Commercial real estate 'debt bomb' of $929 billion comes due this year with HUNDREDS of banks facing insolvency runs if default rates on the loans spike |
| 2024-02-18 |
[Daily Mail, where America gets its news]
|
| Posted by:Skidmark |
| #20 At least it’s not San Francisco or Portland, DooDahMan. |
| Posted by: trailing wife 2024-02-18 21:18 |
| #19 Imagine making your way to the office in that crime-ridden and dreck-laden city of New York. |
| Posted by: DooDahMan 2024-02-18 20:59 |
| #18 Wondering if this might be part of the reason some companies are forcing their employees that were working from to come back into the office. |
| Posted by: Chantry 2024-02-18 19:46 |
| #17 And when's the last time a NYC banker got charged with a crime in NYC? Anyone? Bueller? |
| Posted by: DooDahMan 2024-02-18 19:32 |
| #16 the Feds bail them out We, the taxpayers FIFY |
| Posted by: M. Murcek 2024-02-18 18:34 |
| #15 I'd love to see more and more financial outfits leave that NYC shit hole and go to Miami. In any case, I almost can't care about this "debt bomb". Banks fukc up all the time, and the Feds bail them out. Wash, rinse, repeat. |
| Posted by: DooDahMan 2024-02-18 17:41 |
| #14 I hope no landlords overstate their commercial values!! |
| Posted by: Airandee 2024-02-18 16:34 |
| #13 Without an overturn, its a state strongarm precedent which will, will, be used to shake property owners in a very real way especially as the coffers empty and the values plummet, or refuse to cede control of property for homeless use. Any property owner in New York with the means is either on the phone with people like WTF is this hustle, or is a diversity hire. |
| Posted by: swksvolFF 2024-02-18 14:34 |
| #12 Notice you never see any glowing folo-up stories about hipsters who bought houses for $1 in Detoilet? |
| Posted by: M. Murcek 2024-02-18 10:37 |
| #11 I have seen this in DC. Poor people forced out. Monied people move in thinking a good flip in mind but the crime kills everything. Currently no food stores. Cut off. No police protection. So it goes. |
| Posted by: Dale 2024-02-18 10:22 |
| #10 #8 makes a good point. Not that anything positive for Trump will come of it... |
| Posted by: M. Murcek 2024-02-18 09:59 |
| #9 broken window policy cleaned up NY. |
| Posted by: irish rage boy 2024-02-18 09:52 |
| #8 Just wondering. Since the Polical hack of a Judge in his sudden Real Estate expert opinion declared Trumps properties overvalued by 10's of Millions of $$$$$$$$$$. But the NY/NYC Tax Dept. had already taxed Trump based on Bank Expert declared audits, as fair market value. Doesn't that mean any Trump overpaid TAXES. Is Trump entitled to a refund? |
| Posted by: NN2N1 2024-02-18 09:22 |
| #6 Certainly wouldn't invest in commercial real estate in New York after this week. |
| Posted by: Procopius2k 2024-02-18 08:38 |
| #5 Be good for housing Facing community pushback, NYC mayor reverses plan to house migrants in luxury building |
| Posted by: Skidmark 2024-02-18 08:36 |
| #4 In the aftermath of Trump's NYC case, one must assume all these commercial properties are overpriced and the finance arrangements behind them are fraudulent, no? |
| Posted by: M. Murcek 2024-02-18 08:03 |
| #3 We (US) are already in a Nation Bankruptcy situation. But, in China they have a number of GHOST CITIES that have less than 5% occupancy. The number of empty apartment properties alone in the Chinese ghost cities is said to around 50 million units. |
| Posted by: NN2N1 2024-02-18 06:46 |
| #2 We are daily hearing of more negative blue city news. These cities in America now look like third world areas. Trash everywhere as in Costa Rica and Cuba. Look to Russia and all is neat and clean. I mean everything. Subways, everything. When news is shown look at the background in Saint Petersburg or Moscow. |
| Posted by: Dale 2024-02-18 06:41 |
| #1 No surprise why they are screaming for the Federal Reserve to "pivot" and reduce interest rates (remember the "Prime Rate"?). These same banks thought that yields for US Treasuries would remain low. WRONG. Then again, when banks hire risk officers based on their wokeness rather than subject matter competency, what can do wrong? |
| Posted by: DooDahMan 2024-02-18 00:12 |