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comment by kleinbl00
kleinbl00  ·  529 days ago  ·  link  ·    ·  parent  ·  post: Interest-Only Loans Helped Commercial Property Boom. Now They’re Coming Due.

Dude if nobody is writing leases in all of Bellevue the minute something ticks, it's all going to tock.

San Fran is its own clusterfuck. Hilton is about to walk away from Union Square FFS. NY is fukt in a different way. Deals need to get done in the course of normal business and they ain't - when they do, it'll all happen at once.





b_b  ·  528 days ago  ·  link  ·  

My brother is in the commercial finance business and just got laid off yesterday. Survived the whole financial crises 15 yrs ago unscathed, so I guess the banks are pretty wise to the reckoning that’s coming.

kleinbl00  ·  528 days ago  ·  link  ·  

Small bank, big bank, mid-sized bank?

b_b  ·  528 days ago  ·  link  ·  

Big. Wells Fargo.

kleinbl00  ·  528 days ago  ·  link  ·  

Yeah that's about as big as it gets. I hope he lands on his feet somewhere less evil.

b_b  ·  528 days ago  ·  link  ·  

Thanks. I think he does too. He's too much of a pothead to have any ambition to change jobs without a reason to, and he only ever started working for that shitty company when they bought the company he used to work for. So while I'm sure it's frightening in the short term to have three kids and no job, it will be liberating eventually.