What is a distressed asset? A distressed property is property where the loan amount is greater than the actual value. That’s the long and short of it.
The Fed has assured us that as production gets back to normal, prices will come down to stabilized levels and this will keep our economic engine humming as it did before the pandemic. But what if higher labor costs and rising housing expenses are the new normal and don’t come back down?
Before the COVID-19 pandemic hit, millions of workers were scattered throughout thousands of buildings and towers across the United States. Now, as cities attempt to reopen and get back to business as usual, many building owners are deciding it’s likely that not all of their employees will return to those buildings.