According to the Wall Street Journal, across ten major metro areas, office buildings are operating at only 50% capacity compared to pre-pandemic levels, and public transportation ridership rates have plummeted by 70%, primarily due to the rise in hybrid and remote work. This has resulted in falling prices for related assets. Equity prices of REITs focusing on downtown real-estate investments are trading at almost half their pre-pandemic levels and bonds backed by commuter fares and commercial mortgage-backed securities are facing widening spreads. Read More.
Downtown Real Estate and Public Transport Bonds Face Downturn
Published on June 23, 2023
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