QUESTION: I believe you said that the purpose behind the lockdown that the World Economic Forum was pushing had the objective of addressing climate change. Can you elaborate?
DV
ANSWER: Here is a Video that the WEF produced and then pulled. Locking everyone down, I believe they thought, would kill businesses and stop people from commuting to offices to reduce car driving. Then there was the push for 15-minute cities. The concept was pioneered by Carlos Moreno, a Franco-Colombian professor and urbanist at the Sorbonne University in Paris. The World Economic Forum promoted it to city governments worldwide.
This set in motion the entire commercial real estate crisis, which was ripe for a shift in trend. While only about 5% of commercial loans are currently delinquent, a much larger portion—potentially over 30% of office properties—are in negative equity and face a severe refinancing crisis. The other major sectors (industrial, multifamily, and retail) are in significantly better shape, which helps keep the overall market from collapsing completely, but does not eliminate the serious risk.
We will be looking at real estate globally at the WEC this year. Many people are interested in knowing the future of Real Estate.
