QuoteThese factors will "put a lot of stress on the owners of these properties," Yellen said, speaking before the House Committee on Financial Services Tuesday. She cited an increase in interest rates and the higher vacancy rates resulting from a shift to hybrid and remote workâas well as a swath of commercial real estate loans that will soon come due.
A place for foreigners to park money has been US commercial real estate. I think it is part of back door citizenship. I could be wrong. Back door citizenship might only apply to the homes being bought on all sides of me.
Anyhoo, the bubble bursts. Only while things grew could the banks do well. Now Yellen is yellin again for more socialism for the rich.
I call for the other kind.