Ones and Tooze cover image

Ones and Tooze

COVID-19’s Long Shadow

Mar 1, 2024
Exploring the impact of COVID on commercial real estate globally, with discussions on financial risks, interest rate hikes, and supply chain disruptions. Insights into government interventions to revive the market and the ripple effect of urban closures on society.
38:27

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Quick takeaways

  • Commercial real estate faces significant decline post-pandemic due to interest rate hikes and potential default risks.
  • Global financial crisis looms with vulnerabilities in commercial real estate market, echoing 2008 crisis impact.

Deep dives

Commercial Real Estate Decline in the United States

The article delves into the decline of commercial real estate in the United States post-pandemic, particularly focusing on the 11% drop in the value of commercial real estate since March 2022 due to interest rate hikes. It highlights the risks on bank balance sheets, potential default rates, and the broader impacts of the COVID-19 pandemic on various sectors, especially in real estate and office spaces.

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