Trillions in Commercial Loans: Another Bank Crisis? ft. Peter St Onge
Peter delves into the recent closures of major retail chains and their impact on commercial real estate and the banking system. Whole Foods and Walmart have closed stores in San Francisco and Chicago, citing employee safety and rampant theft and crime. The problem is not limited to these two cities, as Bloomberg reports that one in five offices in America are currently vacant. This means that commercial property owners may default on their bank loans, with 11 trillion dollars of commercial loans outstanding. The implications of this could be disastrous, with the potential for another 2008-style crash looming on the horizon. Join us as we explore the potential consequences of this crisis and what it could mean for the economy's future.
Peter St Onge from @Profstonge has granted us permission to upload this video for our audience.
Peter's Twitter: https://twitter.com/profstonge?s=20
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DISCLAIMERS/TERMS/RULES:
â–º I am not a professional financial adviser, nor do I offer financial advice. This video is for entertainment only. Please consult your investment and tax experts for financial advice.
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