The slumping value of office buildings and other properties is causing strain at banks from New York to Tokyo. Financial advisers are taking notice.
The problems at New York Community Bancorp have reignited fears about commercial real estate across the globe.
The commercial real estate market has been in turmoil since the start of the pandemic, and investors remain concerned about the fallout from the slumping value of office buildings and other properties around the world. NYCB flashed a fresh warning sign recently, rattling markets after it cut its dividend and set aside more money than expected for losses on bad real estate loans.
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