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American Banks

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finance2 years ago•1 min saved

Charlie Munger sounds alarm over US commercial property market.

Berkshire Hathaway Vice-Chair Charlie Munger warns of an impending storm in the US commercial property market as property prices fall and American banks are "full of bad loans." Munger notes that banks are already pulling back from lending to commercial developers and that there are a lot of troubled office buildings and shopping centers. He also acknowledges that banks are not easy to run intelligently and that there are a lot of temptations to do the wrong thing.

via Fox Business|

#american-banks #berkshire-hathaway #charlie-munger

finance2 years ago•3 min saved

Charlie Munger Warns of Troubled Commercial Property Loans in US Banks.

Charlie Munger, the vice chairman of Berkshire Hathaway, has raised concerns over the poor-quality commercial real estate loans held by American banks. Despite the recent collapse of three major U.S. banks and the expected seizure of First Republic Bank by the federal government, Munger emphasized that the current situation is not as severe as the 2008 financial crisis. American banks hold nearly $1.5 trillion in debt, which is due by the end of 2025, and the decreasing value of this property has raised concerns. Munger expressed optimism that the economy’s current troubles will not be as severe as they were back then.

via Bitcoin News|

#american-banks #charlie-munger #commercial-real-estate-loans