The US Treasury will protect and fund the banks who are carrying collectively over one trillion in loans and mortgages that cannot be paid until election day. A collapse before hand will result in an unbelievable Democratic rout. The Biden cabal and Wall street will do all they can to prevent it from happening before November ,2024.
A collapse before hand will result in an unbelievable Democratic rout.
and one after can be blamed on republicans.
The big question is what the major institutional landlords (eg Brookfield) are going to do over the summer. If they decide to hand more downtown Class A buildings to the banks, it could be too much, too fast for the Junta to contain.
But it doesn’t look like they’re doing that, based on what they’ve done to date, with limited and strategic “defaults” that keep turning into renegotiations. It looks like both sides are betting on getting *any* viable tenants where pre covid they would want big accounting and law firms, they’re signing firms that would never have been able to afford those buildings. So maybe they’ll stay afloat. The real impact may well be to the outlying B and C buildings, which will have a bigger impact on the regional banks that our ruling Junta doesn’t really care so much about.
It’ll be interesting, for sure.