Financial Times (June 25)
“A long-anticipated reckoning is under way in the US commercial property industry…. Sharply rising rates, a regional banking crisis that curtailed credit and a trend towards remote work are all wreaking havoc. Older office buildings have borne the brunt of the downturn, but other real estate categories have not been spared.” In New York City, the value of office buildings is “estimated to have dropped by $76bn from their most recent sales price.”
Tags: Anticipated, Commercial property, Credit, Downturn, Havoc, Office buildings, Reckoning, Regional banking crisis, Remote work, Rising rates, U.S.
Wall Street Journal (November 25)
“China’s zero-Covid reckoning” is approaching as “record infections and new lockdowns lead to rising public frustration and slower economic growth.” China’s economy is expected to slow further, “with growth estimates falling for the fourth quarter and the year below 3%. That’s assuming Chinese officials aren’t gilding the books. China’s official GDP target for this year had been 5.5%.”
Tags: China, Economy, GDP, Infections, Lockdowns, Public frustration, Q4, Reckoning, Record, Slower economic growth, Zero COVID
Washington Post (January 26)
“Thousands of Americans who jumped into crypto investing over the past two years in hopes of a rocket ride to instant wealth now face a similar reckoning: Prices for cryptocurrencies… have cratered since reaching all-time highs in early November, wiping out an astonishing $1.35 trillion in value globally, nearly half of the total market.”
Tags: Cratered, Crypto investing, Cryptocurrencies, Instant wealth, Market, Prices, Reckoning, Rocket ride, U.S., Value
The Economist (July 22)
“Despite the frantic political activity in Westminster…the country has made remarkably little progress since the referendum in deciding what form Brexit should take. All versions, however “hard” or “soft”, have drawbacks…. Yet Britain’s leaders have scarcely acknowledged that exit will involve compromises, let alone how damaging they are likely to be. The longer they fail to face up to Brexit’s painful trade-offs, the more brutal will be the eventual reckoning with reality.”
Tags: Brexit, Brutal, Compromises, Drawbacks, Frantic, Hard, Painful, Progress, Reality, Reckoning, Referendum, Soft, Trade-offs, Westminster
