Locator: 44601ECON.
A reader sent me this graphic, no source, link here.
My not ready-for-prime-time reply:
- very interesting graphic.
- only two huge changes: banking and real estate
- banking risk is temporary, manageable, and, for the time being, contained.
- they need to separate residential and commercial real estate:
- commercial
- in major cities on east and west coasts, commercial property values plummeting; with 50% of office workers not returning to work, a lot of empty office buildings
- Jeff Bezos should send AOC a huge thank you for stopping huge Amazon facility on Long Island
- residential real estate
- not sure what the problem is there to contribute to that 12% to 52% -- I think the 12% to 52% is all commercial risk.
- in Texas, and I bet across the entire fly-over country, real estate is a minor problem in comparison to commercial real state on east / west coasts.
- it's nice to see they are not worried about:
- debt ceiling
- southern surge
- cost of cars
After receiving the graphic, this:
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