Charlie Munger warns of trouble in US commercial property market.
Berkshire Hathaway Vice Chairman Charlie Munger has warned of a potential crash in the U.S. commercial property market due to trouble in the financial system, with banks holding vast portfolios of "bad" commercial property loans. Munger stated that there are a lot of troubled office buildings, shopping centers, and other properties, leading to a lot of agony in the market. Mall and shopping center players such as CBL, SPG, and MAC, and office REITs like BXP, ARE, and SLG are among those affected.