Quote from: RE on Nov 15, 2023, 06:32 AMThe bank and the builders do not have to realize the loss as long as they maintain the fiction that the apartment can be rented at the luxury price they projected when they approved the developer's loan to build it 10 or 20 years ago.
This is a good observation if true because it is similar to banks not having to recognize a loss on low-interest bonds they hold if the bank says they intend to hold them until maturity. Of course saying you intended to hold until maturity and actually intending to do so are two different thing.