A downward spiral of commercial property prices can hurt sectors beyond the real-estate industry, warns Lisa Shalett, chief investment officer at Morgan...
A downward spiral of commercial property prices can hurt sectors beyond the real-estate industry, warns Lisa Shalett, chief investment officer at Morgan Stanley Wealth Management.
Morgan Stanley analysts think commercial property prices could tumble as much as 40%, nearing declines seen in the aftermath of the 2008 global financial crisis. San Francisco Mayor London Breed’s office said a week ago that it was projecting a $780 million budget shortfall in the coming two fiscal years through 2024, up $51.5 million from its projection in January.
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