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01/03/24

13:51

Post #: 72695578
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Originally posted by alonso ↑

Interesting notes on the precipitous position of office blocks, not just in the US

"As office building anxiety has swept the financial world, as the persistence of both remote work and higher borrowing costs undercuts the economic fundamentals that made the properties good investments in the first place, a wave of banks from New York to Tokyo recently conceded that loans they made against offices may never be fully repaid, sending their share prices plunging and prompting fears of a broader credit crunch.But the real test will be what price office buildings actually trade for - especially once the hundreds of billions of loan backing the properties mature...."

$1 would sound and look good as the headline purchase price until they handed over the debt transfer papers for signature.

https://www.zerohedge.com/markets/w...n-pension-fund-sells-manhattan-office-tower-1

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Hi Alonso
Read a report from USA that the commercial sector was in for a 50% (down) correction
Also a report that the City of Melbourne was looking deserted these days ?
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