The Washington Post ran a sob story for banks, noting how they are losing money on the commercial real estate loans they issued in the last few years. It is sad, but bankers are supposed to have a clue about their business.
There was enormous overbuilding in almost every category of commercial real estate including retail, office space, and hotels. Banks would be right to refuse new loans in these areas even if they were flush with money. It would have been useful if the Post had included the views of someone familiar with the commercial real estate market.
Unlike many news organizations, the Prospect has remained staunchly committed to keeping our journalism free and accessible to all. We believe that independent journalism is crucial for a functioning democracy—but quality reporting comes at a cost. From Trump’s threat to the free press to Musk’s influence on our democracy, there is too much at stake in 2025 to stop now.
We’re behind on our goal to raise $75,000 to continue delivering the hard-hitting investigative journalism you’ve come to expect from us. Your support helps us maintain our independence and dig deeper into the stories that matter most.
We need you to make a year-end contribution today. Any amount helps secure our future and ensure we can continue holding power to account.
