Will Empty Offices, Remote Workers Create Another Banking Crisis?
Economists are now asking the question whether empty real estate will bring back memories of the global financial crisis before the full-time employees.
A couple months ago, at the end of February, the Federal Reserve issued a warning about how distress in commercial real estate could rattle the rest of the nation’s financial system.
The two incidents that began to sound the Feds’ alarms were the Columbia Property Trust, a large office landlord controlled by PIMCO, has defaulted on $1.7 billion in loans …
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