Posted on 03/25/2024 1:35:01 PM PDT by Heartlander
BlackRock will be buying it up for pennies on the dollar.
Why are the tax payers at fault?
Perfect timing for a real estate mogul to take over and guide the US through this latest Fed created crisis.
Kneecapping them would be a good start and Trump hates the Fed.
.
Another season of banking collapse.
Happens how many times a century?
Taxpayers getting the shaft? Well, how come that happens over and over?
BTW - having your money in the bank itself is not going to hurt or help you.
Just to clarify about the odd headline.
Only one thing will save city based corporate real estate - increase demand. So, perhaps we convert to illegal alien condos, have taxpayers pay the rent, and crisis averted.
My bet is our tax dollars will go to retrofit these building to house illegals.
beat you by a few seconds.
It’s deja vu all over again.
This is stupid. Why aren’t they converting some of that commercial property into residential?
“Well duh zoning laws!”
The same question applies. Why isn’t some of that commercial zone re-zoned to residential? There is a big need for more living space at the moment. Apartments, condos, could be anything.
Most folks do not want to go down the elevator from their urban apartment/condo to be greeted by homeless people in tents and needles and excrement.
Until cities clean up their streets and severely prosecute all criminals converting to residential will be a fool’s errand.
I don’t think this is by accident.
The structure of an office building is unsuitable for conversion to apartments. There is not enough water or sewer facilities, and the ventilation systems are all wrong for subdividing into smaller cells controlled by more thermostats.
In most circumstances, it would be cheaper to tear down the office building and build a new apartment building.
Plent of graft in such projects for local politicians and developers to want to do that. But there really is not enough funding to even get the demolition started. The cities are bleeding out from loss of tax revenue and only federal grant money will be enough to start one of these projects. One is probably all there will ever be. Even the Feds are running short.
My bet is that the buildings stay vacant until one burns down in a massive fire set by squatters. There will then be some limited federal money for demolishing other vacant buildings.
Because Scy. Yellen stated the FDIC is liable for all bank deposits, $250k limit be damned.
The problem is that 250K is a lot less than one day’s working cash for most medium size companies.
Large companies may have daily deposits in the millions.
It is a mess.
Most folks do not want to go down the elevator from their urban apartment/condo to be greeted by homeless people in tents and needles and excrement.But they won't mind to and from their work place?
That is the great thing about working from home outside the city—most white collar folks have figured it out by now.
I did a quick calculation on this back when Silicon Valley Bank was in distress last year, and I estimated that the Ford Motor Company would have to maintain something like 1,500 different bank accounts just to manage its biweekly payroll cash flow.
BlackRock works, but I was going to say China. Create virus. Destroy world economy. Buy up everything for peanuts.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.