Commercial real estate faces a brutal combo of higher rates, tighter lending, and looming debts - and the fallout could be disastrous, Goldman strategist says
The result is that CRE investors, who rely heavily on financing from smaller banks, face higher borrowing costs and tighter credit just as they're looking to refinance their debts. Those challenges could lead to a spike in defaults and a decline in property prices.
He noted that obtaining CRE loans now is"almost impossible" as financing has"almost completely shut down."
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