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2020s commercial real estate distress was a worldwide spike in commercial real estate distress that began in the 2020s in the wake of the COVID-19 pandemic and interest rates hikes by central banks in response to the 2021 inflation crisis. Although the increase in distress occurred globally it was most acute in the United States and China.
The hybrid-work trend and high interest rates have sent commercial real estate values crashing in major cities, with Morgan Stanley warning earlier this year that office prices could face a 30% ...
The commercial real estate market has over $900 billion in debt set to mature this year, according to Bloomberg. Once that debt hits maturity, it will have to be refinanced at higher rates and ...
In December 2020, the New York State Legislature passed a state moratorium on evictions. [11] In May 2021, the legislature extended the moratorium until August 31. [12]The Supreme Court struck down a provision of the state moratorium that protected people who filed a form declaring economic hardship, rather than providing evidence in court.
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The government of New York state initially responded to the COVID-19 pandemic with a stay-at-home order in March 2020. As the pandemic progressed in New York state and throughout the rest of the country, the state government, following recommendations issued by the U.S. government regarding state and local government responses, began imposing social distancing measures and workplace hazard ...
Real estate bubbles are invariably followed by severe price decreases (also known as a house price crash) that can result in many owners holding mortgages that exceed the value of their homes. [ 32 ] 11.1 million residential properties, or 23.1% of all U.S. homes, were in negative equity at December 31, 2010. [ 33 ]
After posting a year-over-year decrease in February 2023 for the first time in more than a decade, the median sale price of a single-family home has been on the rise again, recording annual growth ...