Colony Capital chairman and CEO Tom Barrack thinks the commercial mortgage market in the United States is on the verge of collapsing. Barrack wrote in a white paper, posted to Medium late Sunday, that the coronavirus pandemic and subsequent shutdown of sectors of the U.S. economy could lead to margin calls, foreclosures, evictions and potential bank failures. He claimed the impact of this could be greater than the impact of the Great Depression. “Immediate concerted
source https://therealdeal.com/2020/03/23/tom-barrack-predicts-commercial-mortgage-market-crisis/
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