🚨 BREAKING:
Federal Reserve Chair Jerome Powell‘s alarming statement from today:
„THERE WILL BE BANK FAILURES!“
Seems like he knows exactly what will happen when BTFP ends on Monday March 11th! ⏰
The new era is called crypto and it’s waiting! #XRP pic.twitter.com/ERadTiMcML
— 𝓐𝓶𝓮𝓵𝓲𝓮 (@_Crypto_Barbie) March 7, 2024
ALERT: Housing defaults have just hit the highest levels in a decade
This is not looking good pic.twitter.com/2p1Ah9z5Q4
— Game of Trades (@GameofTrades_) March 8, 2024
Federal Reserve Chair Jerome Powell has set off alarm bells with his recent statement on March 7, 2024, stating, “THERE WILL BE BANK FAILURES!” This ominous declaration has left many wondering about the potential fallout, especially as it coincides with the end of the Build Back Better For People (BTFP) initiative on Monday, March 11th.
Adding to the concerns, housing defaults have surged to the highest levels in a decade. Fannie Mae’s strategy of bundling delinquencies and selling them to investors is exacerbating the situation, prolonging foreclosure processes. The real estate market is facing significant challenges, and Powell’s warning amplifies the uncertainties surrounding the financial sector.
A striking example of the turmoil in the commercial real estate sector comes from a Boston suburb where a 236k sq ft office complex in Quincy, MA, recently sold for a mere $6M, translating to an 86% discount from its 2018 purchase price of $43M. This drastic devaluation raises questions about the health of the commercial property market, with sellers seemingly desperate to unload assets.
The shockwaves extend to the international real estate scene, as seen in Canada Pension Plan Investment Board’s three recent deals, including the sale of its Manhattan office tower redevelopment project for just $1. This move has sent ripples through the industry, igniting concerns that such firesales could trigger a wholesale crash in the Manhattan real estate market.
Blackrock’s current attempt to offload Chinese office space at a 30% discount adds another layer of complexity. The discounted sale of prime properties hints at broader uncertainties in the global real estate landscape, with potential ramifications for investors and markets alike.
An office complex in a Boston suburb just sold for a shocking $25 per sq ft – yes, that's not a typo
The 236k sq ft complex in Quincy, MA sold for $6M
The seller bought the property in 2018 for $43M representing an 86% 'discount'
What's going on in commercial real estate has… pic.twitter.com/GrAhSmOZti
— Triple Net Investor (@TripleNetInvest) March 8, 2024
Just a Reminder that $BLK were the Largest Buyers of Evergrande Debt along with $HSBC & $UBS!
Blackrock Is Currently Selling Chinese Office Space At 30% Discount.
Can't Stop. Won't Stop. #GameStop $GME #GME pic.twitter.com/yXbhytLwoZ
— FlippingTables21:12 (@FlippingTables8) March 2, 2024
This seems significant, Manhattan office building sold for $1t.co/jLIIELUA0h
— Crowdsource The Truth (@JG_CSTT) February 29, 2024