First the Global Financial Crisis, then the Euro Debt Crisis, now the Big One.
The industry exhorts the government to call out “can pay, won’t pay” retailers, many of them global brands that avoid paying rent despite their cash reserves.
Big driver behind soaring rents — the “Airbnb effect” that removed countless properties from global cities’ long-term rental markets — reverses.
It will likely take “several years before the output lost due to the virus outbreak is fully regained.”
Luxury retail isn’t what it used to be, from Barcelona to Hong Kong.
“Wide bid-ask spread points to lower values” going forward. It just started.
They haven’t gotten over Financial Crisis 1 and the Euro Debt Crisis. Now there’s a new crisis. Deutsche Bank’s CEO going on TV to soothe nerves didn’t help matters.
The process of reopening Spain has been dubbed, rather ominously, “Operation New Normality.”
How the Virus Crisis Flipped UK Retail Sales Upside Down.
“First sector to be afflicted by the virus crisis and, unlike other crises, likely the last to recover from it.” And these economies are still incredibly fragile, even eight years after the last crisis.