{"id":7301,"date":"2023-04-30T16:41:07","date_gmt":"2023-04-30T16:41:07","guid":{"rendered":"https:\/\/imsfund.com\/?p=7301"},"modified":"2023-04-30T16:41:07","modified_gmt":"2023-04-30T16:41:07","slug":"charlie-munger-reportedly-warns-of-trouble-for-the-u-s-commercial-property-market","status":"publish","type":"post","link":"https:\/\/imsfund.com\/index.php\/2023\/04\/30\/charlie-munger-reportedly-warns-of-trouble-for-the-u-s-commercial-property-market\/","title":{"rendered":"Charlie Munger reportedly warns of trouble for the U.S. commercial property market"},"content":{"rendered":"


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Charles Munger at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska, April 29, 2022.<\/p>\n

David A. Grogan | CNBC<\/p>\n<\/div>\n<\/div>\n<\/div>\n

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Charlie Munger<\/a> believes there is trouble ahead for the U.S. commercial property market.<\/p>\n

The 99-year-old investor told the Financial Times<\/a> that U.S. banks are packed with “bad loans” that will be vulnerable as “bad times come” and property prices fall.<\/p>\n

“It’s not nearly as bad as it was in 2008,” he told the Financial Times in an interview. “But trouble happens to banking just like trouble happens everywhere else.”\u00a0<\/p>\n

Munger’s warning comes as U.S. regulators have asked banks for their best and final takeover offers<\/a> for\u00a0First Republic<\/a>\u00a0by Sunday afternoon, the latest in what has been a tumultuous period for midsized U.S. banks.<\/p>\n

Since the failure of\u00a0Silicon Valley Bank<\/a>\u00a0in March, attention has turned to First Republic as the weakest link in the American banking system. Shares of the bank sank 90% last month and then collapsed further this week after First Republic disclosed how dire its situation is.<\/p>\n

Berkshire Hathaway<\/a>