The Money Dries Up Commercial Real Estate Prices

Peter Saint-Ange wrote a really good piece on a sub stack about the commercial real estate Market and I'm becoming more convinced that outside of the labor market This is gonna be one of the bigger shoes to drop. If you just look at these numbers They're pretty startling. San Francisco's office vacancy rate is now 32.7% Pre-pandemic it was 4%. A recent study from Berkeley found cell phone traffic is actually down 70% in city compared to pre- pandemic. It seems like there's gonna be massive losses in that market coming coming to bear soon Gunny CLLs Yeah, we discussed this yesterday on rabbit hole recap  on our slack channel