Americans are pretty smug about China and major defaulting on Real estate investments. The only problem with that is we Americans have our own real estate problem and major defaults.
I guess one can blame it on Covid and the work from home ethic that had come into being. Too many people don’t want to go into the office. Now if not enough people don’t want to go into the office a company doesn’t need that much office space. If you don’t need that much office space when the lease is up, we’ll I guess you the company will down size. The owners of those office buildings can’t make their nut so they default on their loans, just like the empty residents in China.
*** Oh my just think of all the money out of circulation, and with high interest rates the United States maybe looking at a deep recession, and a possible panic 😱.
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