The Commercial Real Estate Crisis is Coming
Blueprint America interviewed Warren about the crisis.
From the transcript:
So are we going to see small cities with just giant skyscrapers that are empty?
Store fronts that are empty?
Quite frankly, we are going to see some of that. See-through buildings, where the building has already been built, but there are no tenants in it, so you can see from one set of windows all the way over to the other. There will be some of that. There will also be some other adjustments that will be made.
In some cases the mortgage lender will repossess the property and is able to sell it to someone else and get it off their books."