Alex met Sam at nursery. They were first loves. They built forts together, shared sandwiches in high school, and were each other's first kiss.

They were the dream couple, Sam got into EDM music.

While Alex enjoyed folk, first loves are kind of like your current account. If they aren't working for you anymore,

maybe it's time to switch with the current account switch service.

This is John Bachelor. The pandemic's behind us, but the damage done to major cities, center cities is not. Commercial real estate.

The alarm bells are ringing now. The amount of mortgages come due in these next years to 27

is more than 2 trillion says the Wall Street Journal. Buildings right now are

being marked down 50, 60, 70%. Speaking with colleague Chris Regal

about what this looks like across America, he has business in many cities, major and secondary cities.

Manhattan and San Francisco stand out, but Los Angeles and Chicago are not far behind,

and all of the cities are going to deal with the fact that the big commercial buildings

that were filled with workers are no longer filled either work at home or simply

the cities are no longer viable and that would be San Francisco for the immediate

future. Here's Chris Regal on commercial real estate coming due and not being

able to pay the mortgage.

John now you're starting to enter a cycle and not being able to pay the mortgage.

John, now you're starting to enter a cycle of fear and that drives the greatest danger.

We're routinely seeing examples of buildings that may be profitable, may be viable, but banks are starting to write

off the sector and not loan in the sector.

So that could accelerate the crash or accelerate the correction where in a San Francisco, in a New York, it's

understood that there will be very large write-downs on buildings.

That might be 50%, 60% 70%.

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