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> 80% is pure fantasy land This hotel in SF just dropped 50% since 2016. Billionaires are over their heads on real estate; how are they gonna hoover it up when
by keep_reading 3y ago
> 80% is pure fantasy land
This hotel in SF just dropped 50% since 2016. Billionaires are over their heads on real estate; how are they gonna hoover it up when they can't afford their existing loan payments? It can and will happen.
https://sfstandard.com/2023/10/19/downtown-san-francisco-luxury-apartment-loses-half-its-value/ https://sfstandard.com/2023/10/19/downtown-san-francisco-lux...
- rcarr 3y agoA 50% reduction for one luxury apartment tower in the city most affected by remote work in the entire world and one that also has a notorious crime problem. What is your reasoning that this can be extrapolated to an 80% housing market crash on the national or global level?