Cassandra says...
In Axios Market letter of March 29, I found a logic explanation of what I (as many others) have been perceiving for quite a few months : office property markets are at huge risk and the market weighs $6 trillion for U.S. offices only.
Why should we be concerned ? To quote Matt Phillips and Emily Peck, it would not only hurt oligarchs and billionaires but it would hurt pension funds' performance and city tax revenues. If it gets bad enough, it may undermine banks (espcecially small and medium sized as for SVB crisis), crimp lending and slow the economy.
I naturally recommend the lecture of the whole article.
#property #economy #officerealestate #banks #officepropertymarkets
