Commercial-property losses will add to banks’ woes
Real-estate investors see a hellish-perfect-dumpster-fire-storm
Ask an investor to describe the outlook for commercial property and you will get a colourful response. “Office is a dumpster fire,” says Daniel McNamara of Polpo, an investment fund. His view of the wider market, which includes shops and warehouses, is only a little less grim: “It really is the perfect storm.” Tom Capasse of Waterfall Asset Management, an investment firm, has nicknamed places where the tech bubble has burst, including San Francisco and Seattle, “office hell.”
This article appeared in the Finance & economics section of the print edition under the headline “Run from offices”
Finance & economics April 1st 2023
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- Commercial-property losses will add to banks’ woes
- European banks and the price of safety
- Did social media cause the banking panic?
- Western lenders may regret forcing Ukraine to turn to the IMF
- How rare-gas supply adapted to Russia’s war
- Which countries have escaped the middle-income trap?
- China is now an unlikely safe haven
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