Real Estate Distress is 20 Times Worse than 2009 - Real Estate Market Downturn 2020
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Jay Olshonsky: And why this is so different than 2009? The best example I can give you is, we had an economist from CoStar and I will quote him because I give him credit for this and he basically said, "this is at least 20 times worse than 2009". So, if you just take that volume and you look at it that way. If you really think of 2009, it was really starting in the mortgage-backed securities and housing and then it spread to the mortgage-backed securities in commercial real estate. This is spread to everywhere. This is the local bank. This is the biggest banks in the world. Is the current real estate downturn different from 2009? Watch this to find out. Visit the GowerCrowd website for masses of free real estate syndication and investing resources and training: https://bit.ly/31pWtSx