(FOX BUSINESS) – Some Morgan Stanley financial analysts say the commercial real estate industry could be headed for a crisis worse than the 2008 great recession. This comes after businesses have left downtowns across the country with an increase in remote work and higher interest rates.
Many downtown buildings are owned by investment firms who rely on bank loans. But with businesses not renting as much office space and rising interest rates, some worry these firms may not have the money to pay back the banks.
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In downtown Minneapolis, people are returning to see the Minnesota Twins play ball, attend a concert or catch a Broadway show.
