Great analysis. During the GFC the saying was banks were extending and pretending in CRE b/c they didn't want to foreclose. Landlords are also beholden to their creditors. Interesting how this can ripple through the entire marketplace.
Enjoyed the pod w/@jposhaughnessy too!
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Thank you on both counts, Justin!
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love the substack name
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Thank you. :)
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Good one!
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Thank you, Michael. :)
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it gives them add’l leverage but it’s probably no more than if our restaurants are closed, we aren’t paying the rent.
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Certainly could be! I'm a little conspiratorial by nature...pic.twitter.com/vOTrS0bbfA
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Pardon my noobness with this question. Would you say there are parallels between this and oil companies? They pay for rights to extract, but it may not be profitable to, cause of commodity prices. They also can't be easily extracted from an oil field. Sounds similar to me.
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I don't know enough about oil to say.
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