WeWork’s $47 billion collapse could be the straw that breaks regional banks. It could put nearly 600 commercial leases on the block, sticking the landlords — and their banks — with the bill. Commercial real estate accounts for 30% of regional bank loans — roughly $300 billion. It’s already fallen by half or more in many US cities. Hit by rate hikes, work-from-home, and catastrophic mismanagement of some of America’s biggest cities.
WeWork’s $47 billion collapse could be the straw that breaks regional banks.
It could put nearly 600 commercial leases on the block, sticking the landlords — and their banks — with the bill.
Commercial real estate accounts for 30% of regional bank loans — roughly $300 billion.… pic.twitter.com/jxXlDQp6qK
— Peter St Onge, Ph.D. (@profstonge) November 17, 2023
- Market Shifts Toward Credit Risk From Interest Rate Risk as PPI Takes a Hit; Fitch Foresees Ongoing Struggles for US Regional Banks; Corporate Bankruptcies Surge – Citizen Watch Report
- Rating agency Fitch said on Wednesday that U.S. regional banks will face continued challenges in 2024, with those lacking scale or focused on commercial loan growth disproportionately pressured. – Reuters – BAI posted on X
- US #banks unfavorable operating environment is expected to persist in 2024, with a negative impact on regional bank profitability, as evidenced by weakness in loan & net interest income growth, particularly at banks lacking scale. Learn more – Fitch Ratings
- Regional banks‘ retreat from corporate lending opened the door for private credit providers to fill growing funding demand in the lower middle market, as cash-hungry small businesses seek alternative lending sources. – PitchBooks
- Don’t Count on Elections to Save You – Whatfinger News
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