Walter Shapiro

Walter Shapiro @MrWalterShapiro

@joelmsiegel @EBOlady @hgoldman77 From what I’ve read , a lot of it is that landlords have loans based on a certain aspirational rent level. But there are only so many banks. But if they lower rents to meet the market, the banks call in their loans. — PolitiTweet.org

Walter Shapiro @MrWalterShapiro

@EBOlady @joelmsiegel @hgoldman77 I think it is because the landlords don't have the money they've borrowed based on the aspirational rent. So the biggest threat is the bank calling in the loan. So they deal with the carrying costs in hopes that someday, a new drugstore chain will arrive on 86th Street. — PolitiTweet.org