MacroVoices #374 Chris Whalen: Are More Banks Going To Fail?
Macro Voices
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The Inflation Runaway Risk in Commercial Real Estate
I think most credit people look at this and say, well, we're going to pay for lunch now because they know that over the last few years we've had a free run. When the Fed boosted asset prices, they made everything go away in terms of credit. So it'll be like the 1970s in Texas. What do you do with them? It's very hard to convert a commercial building to risk use. You just have to have different plumbing and services and everything else. And it just doesn't work.
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