Low rates and rosy assumptions about how much rent properties might collect helped fuel the record $5 trillion debt boom in U.S. commercial real estate over the past decade.
But as the COVID-19 pandemic threatens to rewrite many of the rules about where people work, shop and spend their leisure time, the big question remains: What might it all mean for commercial real estate?
“Commercial real estate (CRE), in our view, tops the list of sectors that are most at risk of declining asset quality amid the coronavirus pandemic — which would lead to losses for U.S. banks,” wrote a team of analysts led by S&P Global Rating’s Stuart Plesser in a new report Monday. Read more…..
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Jeff Bezos, Amazon Founder, entrepreneur and owner of the Washington Post, talks to David Rubenstein about his background, how he came up with the idea for Amazon, building the company, some of the key businesses including Prime and Whole Foods, the space race and philanthropy.