Financial Times/Joe Rennison/9-27-2020
“Commercial properties hit by the economic effects of coronavirus could have lost as much as one-quarter of their value or more, laying bare the scale of the damage being wrought across American malls, hotels and other commercial buildings.”
USAGOLD note: The implosion in commercial real estate values is well-known to those of us who remember the 1980s. What began in the real estate market, though, quickly flowed through to the banks (Wall Street) and ultimately the overall economy (Main Street). It was the 1980s and one could see the destruction first-hand, i.e., in the number of buildings boarded up in downtown America.
