Economic downturns come every 4 to 7 years. This one could hit light, could hit hard. Nobody knows. If it hits hard, the Mormons will say "told ya so".
I just woke up from a dream that makes me think this will be a doozy. There was a massive traffic jam that made everyone very upset. They were fuming that the government couldn't fix it.
But everything could be fine and everyone could believe Biden's "Don't Panic" speeches.
Edited 1 time(s). Last edit at 03/17/2023 07:48AM by bradley.
The old "winner of the world series" system is much better than bradley's. In about 30 years it predicted something like 9 of the preceding 7 recessions.
There are a lot of office buildings that are partially or completely empty because people decided they liked working from home during covid, and many corporations are sort of or completely OK with that.
Those corporations had leases they still had to honor, but now those leases are expiring, and the corporations are either downsizing their office space, demanding lower rents, or both.
That means a lot of office building owners are going to start missing mortgage payments to banks.
Owners of malls in my area are still acting like idiots, and demanding unrealistic amounts of money from continuing tenants. The result is that stores are now much more willing to pack up and move locations in order to find an appropriate rent. And the spaces that were once taken up by the major retailers have now been empty for several years.