Whether or not liberals want to admit it, this will hasten the demise of large cities in which they live, or travel to for work, shopping, and entertainment. First will likely be New York City, followed closely by Chicago, LA, Atlanta, Washington DC, Seattle, and Philadelphia. Others will follow. What was once needed in the past due to limitations of travel when countries emerged around the globe is no longer needed due to vast improvements in means of travel and methods of communication.
We live in interesting times. That is only a variation of a Chinese curse to those who are infatuated with big city life.
“Commercial real estate trends during recent years are accelerating because of the pandemic, but it is difficult for insurers to unload troublesome real estate assets, such as mortgages, during the pandemic in order to make the switch, said Mike Siegel, global head of GSAM Insurance Asset Management.”
The above makes me wonder whether insurers will be required to mark down their RE holdings on their balance sheets and Sch A at the end of 2020. I wouldn’t hasten to compel them to do so until the Wu WHO Flu (case count) curve arrives in the ‘end-tail’ stage. At that time, forecasting the decline of commercial RE occupancy rates will be feasible and more accurate.
Whether or not liberals want to admit it, this will hasten the demise of large cities in which they live, or travel to for work, shopping, and entertainment. First will likely be New York City, followed closely by Chicago, LA, Atlanta, Washington DC, Seattle, and Philadelphia. Others will follow. What was once needed in the past due to limitations of travel when countries emerged around the globe is no longer needed due to vast improvements in means of travel and methods of communication.
We live in interesting times. That is only a variation of a Chinese curse to those who are infatuated with big city life.
“Commercial real estate trends during recent years are accelerating because of the pandemic, but it is difficult for insurers to unload troublesome real estate assets, such as mortgages, during the pandemic in order to make the switch, said Mike Siegel, global head of GSAM Insurance Asset Management.”
The above makes me wonder whether insurers will be required to mark down their RE holdings on their balance sheets and Sch A at the end of 2020. I wouldn’t hasten to compel them to do so until the Wu WHO Flu (case count) curve arrives in the ‘end-tail’ stage. At that time, forecasting the decline of commercial RE occupancy rates will be feasible and more accurate.