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Bloomberg Wall Street Week - June 16, 2023
Wall Street Week
The Problem With Commercial Real Estate
Commercial real estate, Bloomberg estimates it to be a $20 trillion market. The vacancy rate for commercial space in San Fran is 35%. We're seeing the office buildings that had a $600 million valuation or a $300 million valuation being sold for maybe 50 or 60. If the industry can't get a construction loan, real estate will have a recession.
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