“US office buildings face $117BN debt time bomb: Mortgages due this year threaten to sink US economy as thousands of workplaces remain empty”
January 4, 2024
“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 refinanced, according to the Mortgage Bankers Association. A big chunk of it is at risk of defaulting and costing banks and developers huge sums, sending some into insolvency…”