February 7, 2024
by Michael
🚈 More About This Source Here!!
Over the last several years we have seen commercial real estate values plummet dramatically all over the United States. One of the reasons why this is happening is because millions of Americans started working from home during the pandemic, and many of them never returned to the office once the pandemic subsided.
Another reason why this is happening is because there has been a mass exodus of businesses from our core urban areas. Conditions have rapidly deteriorated in many of our largest cities, and it is exceedingly difficult to run a profitable business in the midst of an environment of constant theft and violence. Ultimately, it is very easy to understand why commercial real estate values have crashed, and they will almost certainly go even lower.
Needless to say, this is a very big problem for financial institutions that are sitting on lots of commercial real estate loans.
Many of those loans have already gone bad, and more are going bad with each passing day.
A commercial real estate crisis of epic proportions is already here, and we will see many financial institutions fail in the months ahead.
At this moment, New York Community Bancorp finds itself in the center of the storm.
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Always Something: Not Your New Normal!! 