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Economy, Real Estate

“US office buildings face $117BN debt time bomb: Mortgages due this year threaten to sink US economy as thousands of workplaces remain empty”

“Billions of dollars in loans on office buildings that are about to come due could play havoc with the US economy after interest rates soared. About $117 billion worth is expected to be due this year and needs to be repaid or… Continue Reading…

Economy

“Supply-Chain Snarls Leave Southern California Swamped in Empty Shipping Containers”

“The biggest export out of Southern California these days is air. And it is suffocating the supply chain. Hundreds of thousands of empty containers are filling marine terminals and truck yards across the region and tying up scarce trucking equipment… Continue Reading…

Real Estate

“Manhattan rental market plunges, leaving 15,000 empty apartments in August”

“There were more than 15,000 empty rental apartments in Manhattan in August, up from 5,600 a year ago, according to a report from Douglas Elliman and Miller Samuel. The inventory of empty units is the largest ever recorded since data… Continue Reading…