In the White House, Treasury Department and Federal Reserve, policymakers are examining the potential risks posed by the approximately $20 trillion market for commercial real estate, which some analysts project is heading for a crash over the next two years, according to four people familiar with the matter, who spoke on the condition of anonymity to reflect private conversations., the Federal Deposit Insurance Corporation announced early Monday morning.
Federal officials have maintained that the fears are overstated. Federal Reserve Chair Jerome H. Powell told reporters Wednesday that the banking system is on stable footing.“We’re well aware of the concentrations people have in commercial real estate. Really don’t think it’s comparable to this,” Powell said at a news conference when asked whether commercial real estate posed a similar threat as SVB’s asset portfolio had. “The banking system is strong. It is sound. It is resilient.
It will take a while for values to fall, because loans won’t all come due at the same time. The commercial real estate market is only about 30 to 50 percent through its current decline, Rahmani estimated. That means the next two years will see even more office leases expiring.Big losses in commercial real estate could have a cascading effect on the banks that already seem most at risk.
I’m srsly losing track of these types of concerned articles! 😂 Anyone have a comprehensive list? Remote work: • Causes physical health issues • Causes mental health issues • Drives up home prices • Impedes creativity and teamwork • ETCETERA AD INFINITUM
I know why. Because it’s bullshit.
Does the Ithaca Voice require it's reports to work at the office? If not, why not?
Businesses have been laying off office workers for decades.
Oh yeah it’s the peasants fault
i hereby fully support exclusively working from as a requirement
quit with the anti-work at home propaganda you noobs
the author
Lol
You mean the 'real estate ' value in the city might drop?
'Why Capitalism will always directly cause the next banking crisis...' fixed
Nice try, corporate overlords.
Working from home has nothing to do with how the banks handle things. In 08-09, people were working at the office and look what happened.
Bullshit.
How ending slavery can harm cotton mills.
ratio
won't someone think of the banks and corporate landlords
Sorry landlords. I’m not working in an office again for less than $200,000/yr
Or a solution to the housing crises. Flip those commercial buildings into residential ones. Let people buy a place and continue working from home.
Oh come on. Enough with the whip cracking, people like working for home, let people enjoy things.
How dancing in Cincinnati could lead to the next kangaroo extinction 😑 make it make sense please
ffs
Well, I guess it wasn’t meant to be
Wait until people hear what CD's did to cassette tape makers. It will blow their minds
Well, then we get away with billionaires. Problem solved.
Oh well don’t care never going back.
There's always going to be a next crisis because that's the nature of capitalism. I say, let'er rip so at least this crash can permanently enshrine WFH. And once these companies go bankrupt, we won't have to read BS articles about the commute being a liminal space anymore!
You guys are getting desperate
Hahaha fuck that noise
So underpaid and overcharged workers need to go to the office to keep rich bozos can make buck on their property investments. Why the MSM hate public housing , act as if non viable , so capitalist parasites landlords can have workers pay them to live. Live of your blood 🩸.
Oh I’m supposed to feel bad for BANKS NOW!?!?!! Grow up
y'all are *scared* scared, aren't you
They could turn it into affordable housing!
look if city landlords are dying because no one wants to rent their ridiculously overpriced shitty offices, they gotta change things and wapo blamming the workers for a capital problem is them crying out
Stop with these stories.
Let them rent cake.
Boohoo
If they have time and adequate warning of this possibility, which your articles provides, then they should be able to PREPARE for these things. A little personal responsibility maybe?
The status quo could change causing the beneficiaries of the status quo to no longer benefit from the status quo. Since I'm not the status quo, why is the WaPo trying to make this my problem?
Not the working class being blamed for corporate real estate problems.
We gotta keep people working at home
What boomer wrote this
I have a list of things I have to take care of and in that list, there is nothing about me covering for greedy bankers and real state moguls making selfish stupid decisions.
You guys are a joke. Blaming everyone responsible for the banking crisis except the white-collar sociopaths in the financial industry, including the Federal Reserve.
🤡🤡🤡🤡🤡🤡🤡🤡🤡
The 'what if rich assholes become slightly less rich' train is never late.
Why you should shove this article up your ass
Why don’t you write an article about how working from home helps lower income people and their families? Do you not want that truth to be told?
I’m not sure about that, but vehicle traffic is much less than it used to be in downtown DC tho. 🤔
Blink twice if your owner made you post this
'Government and corporations destroyed America, workers to blame' is quite the take, even for mainstream media.
Did my boss write this? Gtfoh
Why huffing my farts could contribute to you nerds getting pink eye
Why the Washington post is losing all credibility.
shut up, nerd
This is corporate hack journalism
So what. Turn empty commercial real estate into housing.
Government should be buying this stuff cheap and converting it to housing.
Who will think of the rich?!
dissolve your company and never consider journalism again
LMFAO
Lol 😆
who cares
It doesn’t.
sounds like a bofa problem to me
Turn under utilized office and manufacturing space into advanced skills training centers. Education tax breaks Upgrade the income potential & regional tax base. Vacant, luxury office campuses can be turned into affordable close-in, living wage employee housing.
I can kill the banks just by doing what I'm already doing? That rules.
Good.
Oh no. Banks betting on commercial real estate would lose money if commercial real estate wasn't essential anymore. So sad.
Easy enough solution. Convert the offices to apartments. Rent the apartments to employees. then working from home will be working at the office.
Really WaPo?
“Actually it’s your fault the banks are failing”
Records show Greg Becker, the CEO of SVB Financial Group, received nearly $10 million in compensation last year, including a $1.5 million cash bonus...Becker sold $3.6 million in SVB shares at the end of last month alone. Five other executives received nearly $17 million. facts
Bank executives, corruption, short term quotas, and deregulation are what contribute to banking crises. But somehow it's our fault.
Yes, commercial real estate will sit unoccupied because workers have more freedom. They already work for you. They shouldn’t be physically trapped in your bad investments because you’re unable to manage risk. That’s on you.
Did a bank write this?
Lol ok well then bring on the banking crisis cuz work from home means my husband now gets to be around to watch our babies grow up, instead of being gone 6:30am-7pm every day.
Haha yeah, your lack of revenue diversification out of downtown real estate is my fault for WFH. GTFOH.
What a clownshoes article. You should be ashamed of it and feel bad.
Paging DougJBalloon
LMAO WaPO is very progressive .. progressively looking more and more like TheOnion daily
how will the disappearing Petro dollar, brought about by our horrible government, contribute to the banking crisis?
what if the banks stop buying so many lattes and avocado toasts? also, fuck off with blaming the worker. deregulation and corporate greed contribute to banking crises, not the average person just trying to live
🤣🤣🤣🤣🤣🤣🤣🤣
The biggest third finger to this crap.
That’s not really any of my business
Maybe they need to learn to be more responsible?
😂😂😁😁😁
I didnt invest in these rent-seeking industries just to not get the rent I seek!
Yeah definitely not the degenerates that are GAMBLING with our money, we are the ones to be blamed LOL wtf!
Maybe we could turn all that empty office space into livable space and people could live in it. instead of waiting for people to come back to the office to justify owning it.
Man y'all sure do love letting people write these.
Yeah, I'll keep working from home. Sorry, corporate overlords
At some point you have to stop and consider the banks continue to make poor decisions, risky decisions, or criminal and continue to get bailed out it’s on them. They pay millions in fines and still make bad choices. Let them fail, maybe then they’ll learn the lesson, probably not
Maybe they shouldn’t be paying their useless management so much if rent is gonna drive them to death
Good , I approve
So much for liberals caring about the environment- force people into polluting commutes to help their RE donors
FO Washington Post. Cry me a river corporate America.🙄
This is not a strong argument to work in an office, which sucks
not my problem, sucks to suck
American Capitalism always blames the mistakes made by the ultra wealthy, big banks, Wall St, and the FED on......the workers, what a joke
Oh POLEEEEZ! Tell us another story daddy.
I wonder which of his 25 bathrooms Bezos was in when he shit this headline out.
Re-zone and turn most everything into housing. Make the surrounding streets pedestrian only and throw in some small parks. Done!
Did Jeff Bezos write this? 🧐😁
Yo, what?
lol
Lol. F*ck off, Bezos. 🤡
Garbage propaganda
Coming soon from Washington Post: Why Working From Home Could Start World War III
I dont give a shit, let the economy collapse
Did a downtown commercial building write this?
GTFO!!! These news papers are really pushing their rich lords narrative.
Not my problem.
Wow you guys are really pushing this thing hard.
Yes! We must endure long commutes, gas, tolls, traffic, time away from family, etc. so corporate real estate and banks can continue to make lots of money!
If it does, it’s the the corporate greed of the banks, not working from home. Cut the crap already.
🤡🤡🤡
'Commercial real estate could become a problem for mid-sized banks.' Well, they should have forecasted better. Or invested better. Have they tried not eating avocado toast and getting rid of Netflix?
Why r there prayers in the Senate? What happened 2 separation of church & state?
I've avoided reading this article every time I scroll past it in the app. While I see a correlation — most forward thinking communities are already converting these buildings into housing. Either adapt or die.
This is why media will not survive this next generation. Always so anti Gen z and anti worker. Just stop.
This is pure propoganda.
Written by a boss baby
Every office building is empty these days. Companies love it. The pandemic proved that remote work is viable. Even if people are significantly less productive it is made up for in less real estate and insurance costs. Commercial real estate is screwed!
Lol. You thirsty mfers.
We get it. Work from home causes all the worlds problems. Unless it was the millennials fault.
The federal reserve encouraged excessive risk taking by artificially suppressing interest rates. That’s it…..and inflation is a result of debt monetization/money printing.
Good. All corporate real estate is misused affordable housing
Lol
Let it go.
Keep fccking that chicken. Eventually, it will sing opera.
The commercial real estate industry can kiss my ass.
Boooooo
No. You are not doing this.
Always the workers fault
Ha. Anyway to get the drones back
your system is ready for replacement
The jig is up:
🤣🤣🤣🤡
Okay Bezos
They made bad investments and are one source of inflation. More banks need to go down
The crisis is banks.
There isn’t much good that will come from working at home.
OMG. S.T.F.U. but for real stop blaming the pitfalls of capitalism on workers.
Sponsored content
Suck it up buttercup
chomp my fuckin ringpiece
Christ. So the next time I recreate Kate Bush's dancing in Wuthering Heights in my underwear while waiting for a client to get back to me I could tank the whole goddamn economy? Really makes you think.
I’ll crack on then mate, can’t scratch me arse without a bank collapsing anyway may as well have a good day instead
Sure, in 25 years of working from home I’ve actually been insidiously taking down the banking industry. That crash in 2008? That was because of my home office. 🤷♀️
It saves us from dying if Covid. You Racists.... Right? You the Media/Dems/Left scared the masses into hiding in their homes. I don't blame the business owners, they saw a chance to save money so they did.
The Washington fart is crying for proletarians again.
Way to victim blame
JStein_WaPo “Is it deregulation, no! Is it workers having easier lives, yes!”
I wish it would.
Your Bezos is showing again.
'Policymakers are examining the potential risks posed by the approximately $20 trillion market for commercial real estate, which some analysts project is heading for a crash over the next 2 years.'
Workers misbehaving according to the WP.
Good to hear that
It's kind of too late.
damn wonder why nobody wants to be at the office with a bunch of sociopathic failson MBA grads anymore, truly a mystery
more solid “journalism” lol
Back to your cubicals plebeians!
There is basically no need for office space . Everything can be done remotely. Eventually, office space will be converted to other uses such as residential. Commercial office space are the shopping malls of the future. Like 'Dead Malls' next will be 'Dead Office Space'
Commercial real estate values might decline. So people already so rich they own fucking sky scrapers might not turn such a heavy profit. This is more corporate bullshit scare tactics. If telework negates your purpose, did you really bring anything to the table at all?
Blame this on the modest office worker working remotely? Who has no say on the corporate shenanigans banks like Wells Fargo routinely do? They opened a phony account in my mother's name & I won't forget that. Davidlaz has covered WF & other banks extensively. Read & DoBetter
If there's already another banking crisis around the corner, then the initial crisis hasn't eased yet. The Washington Post where journalism goes to die!
Whatever, Bezos
Can't indoctrinate workers with leftist poison as easily remotely
Oh yes, because surrendering what little we gained over the pandemic is clearly the answer to an incredibly broken system.
If ppl having better lives causes a crash, then let it burn so we can build something better.
The Washington post, owned by Bezos, publishing anti worker sentiment? WHAT?!
Stop doing anything that makes your life easier. It ruins the economy.
America president members of parliament judges and the people thank you all for passing my bill thank you to the honourable president of the world and people who are involved in the media I am applying for account money on urgent basis
Let it burn
Oh no the banks and corporate landlords and their loans… wHaT WiLL We Do? ThOsE PooR SufferiNG RiCh PeoPle!!!!!
shut up.
CONGRESS: STOP CCP'S WEAPONIZATION OF DOJ AND FBI INVESTIGATE THE POLITICAL WITCH HUNT AGAINST MILES GUO Take down the CCP‘s running dog FreeMilesGuo
Democrats are the reason.
as if we needed more reasons to work from home
You again
True according to John Connor aka Terminator 3 Applied Maths is Humanities last Chance against self-acclaimed I.T. Job Hubs on the Web.
Chinese financial projects’re best with three’s families.
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