(Bloomberg) -- Office prices in the US are due for a crash, and the commercial real estate market faces at least another nine months of declines, according to Bloomberg’s latest Markets Live Pulse survey.Most Read from BloombergOnce Unthinkable Bond Yields Now the New Normal For MarketsCongress Averts US Government Shutdown Hours Before DeadlineMcCarthy to Face Far-Right Attempt to Oust Him as House SpeakerSenate Voting on Bill to Avert US Government ShutdownMarket Stress Rises Over Wild Week Ah
-- Office prices in the US are due for a crash, and the commercial real estate market faces at least another nine months of declines, according to Bloomberg’s latest Markets Live Pulse survey.About two-thirds of the 919 respondents surveyed by Bloomberg believe that the US office market will only rebound after a severe collapse. An even greater majority says that US commercial real estate prices won’t hit bottom until the second half of 2024 or later.
“Nobody wants to sell at a huge loss,” said Lea Overby, an analyst at Barclays Plc. “These are properties that don’t need to be sold for long periods of time, and that means holders are likely to delay a sale as long as they can.” “It tends to be a slow reckoning for US real estate when rates change,” Barclays’s Overby said. “And the office sector is deeply distressed, which will take a long time to work out.”
About 20% of respondents said that they moved farther away from their office during the pandemic and only 3% regretted their escape. Nearly a third said their commutes got longer than before Covid, probably either because they moved, or because of pandemic-era transit service cuts. If you're not rich, you may wonder how you can get rich at various intervals of your life. Building long-term wealth generally means making smart decisions with your finances like investing...Becoming a millionaire is a dream for many, and the path to getting there takes discipline and patience, especially when coupled with sticky inflation and soaring rates. Money Expert Jaspreet...Great Canadian dividend stocks are now on sale.
Jared Bernsteian, head of the Council of Economic Advisors, said the administration is "very focused on the supply side" to fight housing shortages.These top TSX dividend stocks look cheap right now. The post TFSA Passive Income: 4 Stocks to Buy and Never Sell appeared first on The Motley Fool Canada.AI Stocks Are Totally Overheated: Here’s What to Buy Instead
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