Shares plunged 20% on the spot, and are down 44% in nine months.
Brick & Mortar melts down on mall owners. So “repurpose” malls into housing?
Ticket sales plunged 31% per person on average since 2002. You can raise ticket prices only so much before the strategy backfires.
This time, a new thingy, “Commercial-Real-Estate CLOs.” But investors don’t care because they’re too busy chasing yield.
We got another one today, warning about all the right things. And then they do the opposite.
“Many families, scratching a living on badly-paid zero-security jobs, just cannot pay the sort of rents many landlords, especially the big funds, have been asking for.”
What does it mean when the Fed and other central banks jointly bemoan the effects of their own policies? Worried about not being able to keep all the plates spinning?
Wow, that was fast: In default is a $650 million portion of a $2 billion loan package, signed in 2018.
Another “run on the fund.” More investors can’t get their money out but contemplate big losses.
Asking rents for ground-floor retail space have plunged as landlords struggle with vacancies.