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6·11 months agoCouple of misconceptions in the comments that I see. These losses are taken by the lending institutions also due to a new value being assessed on specifically commercial office buildings. (work from home means less demand for office)
So if you remember when this happened with residential housing, people became “upside down” in the valuation of their home vs the mortgage and they walked away. Well, people in those situations get hit on their credit. These office buildings are owned by LLCs so it’s less of a hit.
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