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The podcast discusses the impact of changing office habits on commercial real estate, including falling property values and deep discounts in deals. It explores the ripple effects on the global financial system and US cities, highlighting challenges with refinancing and potential bad loans. The risks faced by financial institutions and the winners in this crisis are also examined, with predictions of bank failures and the importance of embracing creative destruction.
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Quick takeaways
- Office workers exodus and rising interest rates have caused deep discounts on commercial property deals in the US, challenging long-held investment norms.
- Losses in commercial real estate loans are not limited to the US, as financial institutions globally are already experiencing repercussions, leading to stock plunges and marking down lower property values.
Deep dives
Commercial property deals in the US are picking up at deep discounts
The exodus of office workers and the rise in interest rates have led to deep discounts on commercial property deals in the US. Long-held investment norms have been challenged as the value of buildings has fallen. Loans are nearing maturity, exposing the decline in real estate prices. These massive discounts and falling values are causing lenders and owners to face the reality of the situation.
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Listen to the best highlights from the podcasts you love and dive into the full episode