If landlords can’t pay back loans on office buildings, the lenders will suffer. Some banks are trying to avoid that fate.

Hard times are likely ahead for a lot of people. Mind your expenses and plan to save where possible just in case. Apologies for having a doomer outlook; I’m very cynical about capitalism, especially in the USA.

  • 555@lemmy.world
    link
    fedilink
    arrow-up
    20
    ·
    4 months ago

    The bank sells it for less, getting the cash now, and writing it off on taxes. That way if they foreclose on it they don’t lose more.