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BrightSpire Capital Stock: Trading Below Book Value With A 15 ... - Seeking Alpha

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The warnings about the impending collapse of US commercial real estate are coming in hard and fast from everywhere. The latest warning came from Berkshire Hathaway's (BRK.B) Charlie Munger who joined the large chorus sounding their fears around commercial real estate and office property in particular. The fears are not entirely unfounded and materially worsened by the current panic-induced regional banking crisis that has tightened credit conditions. Murphy's law comes into play here as all that can go wrong has gone wrong at the worst time. The implications of the post-pandemic WFH zeitgeist have aggregated with inflationary pressures and the sustained rise of the Fed Funds rate to create the macroeconomic conditions for internally managed commercial real ...

seekingalpha.com     May 11, 2023