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IOU $430,000,000,000

January 04, 2021

It may be 2022 or later before property values for apartments, offices, and retail real estate return to pre-COVID levels. Bloomberg cites a report that the pandemic has upset real estate fundamentals by “changing how we lead our lives.” An estimated $430 billion in debt matures in 2021. Reduced travel, work from home, and the rise of e-commerce will continue to challenge lenders and borrowers.

According to the DOE, commercial buildings use about 22.5 kilowatt-hours per square foot. Some analysts predict that work-from-home will reduce office space demand by 15%.

Read More:

https://www.bloomberg.com/graphics/2020-commercial-real-estate/

https://www.iotacommunications.com/blog/benchmarking-commercial-building-energy-use-per-square-foot/#:~:text=According%20to%20the%20Department%20of,are%20consumed%20by%20refrigeration%20%26%20equipment

https://www.globest.com/2020/07/27/office-space-demand-expected-to-drop-10-15-as-more-people-work-from-home/

 

It may be 2022 or later before property values for apartments, offices, and retail real estate return to pre-COVID levels