They tried to short US real estate? Why? Is there a dip in value I’m missing?
The commercial real estate market is pretty screwed at the moment.
Ahh ok. That honestly didn’t take as long as I would’ve expected. Wonder how it’ll translate to the housing market.
Main effect on the housing market right now comes from the interest rate hikes. Since people can’t afford to pay the mortgage with such high interest, the market ends up cooling because people can’t sell their homes. I think the commercial housing market is the one that’s the bigger problem though because of increased trend to work from home. Office spaces aren’t renting nearly as much anymore, and that also affects all the businesses that were supported by workers who came to the offices.
Probably has to do with the dozens of American banks failing at the same time
