this post was submitted on 09 Feb 2024
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Let those banks burn. I could not care less. Let the commercial real estate market burn with em.
We don’t need them.
You do know if that sector fails, so does your pension, and probably a whole load of the economy.
Didn’t you and I already debate this?
Your argument is no different than saying the stone chipping business will collapse because pesky bronze smelters are making swords.
A broad portfolio doesn’t have a particularly heavy real estate position. Maybe some state pension schemes are - I think you mentioned the Canadian one last one - but it’s not like the office buildings become worthless from one day to then other. Some will remain occupied offices, some will convert into residential accommodation. Others will get torn down and redeveloped. The economy will adapt.
Most probably... I don't know, but if we did, good shout and good memory 👍