News Formal

Berkshire's Charlie Munger issues warning for US commercial property market

  • 📰 FoxBusiness
  • ⏱ Reading Time:
  • 33 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 53%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Billionaire mogul warns a storm is coming in the real estate sector

Munger said, "We’ve had some disappointment in banks, too."

"It’s not that damned easy to run a bank intelligently, there are a lot of temptations to do the wrong thing," he continued. "A lot of real estate isn’t so good anymore, and we have a lot of troubled office buildings, a lot of troubled shopping centers. There’s a lot of agony out there." Warren Buffett , CEO of Berkshire Hathaway, and vice chairman Charlie Munger attend the 2019 annual shareholders meeting in Omaha, Nebraska, May 3, 2019."Every bank in the country is way tighter on real estate loans today than they were six months ago," he explained. "They all seem to be too much trouble."

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 458. in MY
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Charlie Munger reportedly warns of trouble for the U.S. commercial property marketCharlie Munger believes there is trouble ahead for the U.S. commercial property market.
Source: CNBC - 🏆 12. / 72 Read more »

Charlie Munger warns of bad loans in the US commercial property marketCharlie Munger warns of stress in the US commercial property market with banks carrying a lot of bad loans as prices slump
Source: BusinessInsider - 🏆 729. / 51 Read more »