Submitted by [deleted] t3_11af737 in Futurology
RockyattheTop t1_j9s7eui wrote
They are propping up their buddies in the commercial real estate business. That’s it period. A large one just went bankrupt today in the US, defaulted on about 1.5 billion in loans on office buildings. This is why they are making you come back, because if that sector completely collapses it’s ‘08 all over again. But on the real fuck them.
milksteakofcourse t1_j9tbfi2 wrote
Bingo. It’s only about corporate real estate
FredOfMBOX t1_j9u8wag wrote
Among other business owners. Everybody working from home has shifted our consumption patterns and it’s hurting some very rich people.
But it’s certainly not about productivity.
altcastle t1_j9u9s90 wrote
Why would corporate real estate collapsing be like 08? That was home mortgages, it actually affected many, many people. No one lives in the offices.
SaltyChickenDip t1_j9uwn3m wrote
Lots of money is in commercial rentals.
RockyattheTop t1_j9ubs3c wrote
Tell me you don’t understand how banking works, without telling me you don’t understand how banking works
bnwtwg t1_j9u8tug wrote
What company are you referring to? Not seeing anything on Reuters or a quick google search.
iratecommenter t1_j9viwkj wrote
I think he's talking about Brookfield's situation with the gas company tower and 777 Wilshire in LA
ShltShowSam t1_j9v9uuq wrote
Look up the Evergrande collapse in China. This has been going on for multiple years in various countries and everyone is doing everything they can to keep the panic from spreading.
https://medium.datadriveninvestor.com/is-china-going-to-collapse-7525ea90a122
There is a strong US correlation since many US investment firms bet on speculative Chinese real estate. That’s $300 billion USD gone.
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