Charlie Munger warns of trouble in US commercial property market.
TL;DR
Berkshire Hathaway Vice Chairman Charlie Munger has warned of a potential crash in the U.S. commercial property market due to trouble in the financial system, with banks holding vast portfolios of "bad" commercial property loans. Munger stated that there are a lot of troubled office buildings, shopping centers, and other properties, leading to a lot of agony in the market. Mall and shopping center players such as CBL, SPG, and MAC, and office REITs like BXP, ARE, and SLG are among those affected.
Topics:businessreal-estate#banking#berkshire-hathaway#charlie-munger#real-estate#troubled-properties#us-commercial-property-market
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