7/13/23: The Coming Real Estate Crisis
THE TRUTH ABOUT YOUR FUTURE with Ric Edelman
00:00
The Impact of the COVID Pandemic on Commercial Real Estate
In New York City, there's 94 million square feet of office space available for lease. Vacancy rate is 17%. Nationally, the vacancy rate is 20%. Manhattan has more empty office space than Houston and Dallas Fort Worth combined. Professor Saru says if the default rate on commercial real estate rises 10 to 20%, banks could lose $160 billion.
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Transcript
