This chapter discusses the deep discounts at which commercial property deals are being made in the US, highlighting the decline in real estate prices. It explores the implications of these falling values on the global financial system and US cities.
The commercial real estate market has been upended by changing office habits and rising interest rates. For years, lenders and global investors did not have to confront these plunging building values. But with deals picking up again, the reality can no longer be ignored.
On today's Big Take podcast, Bloomberg real estate reporters Natalie Wong and Patrick Clark share how these losses may ripple across the global financial system.
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