‘Perfect Storm’ Could Slam Commercial Real Estate and US Financial System, Warns Economist Peter St Onge

A Perfect Storm Could Slam the US Financial System and Commercial Real Estate, Warns Economist Peter St Onge

A weakening commercial real estate sector could be a canary in the coal mine for the US financial system at large, according to economist Peter St Onge. In a new video update, the analyst says growth in major urban areas of the US appears to be declining, which could potentially wipe out a slew of businesses and devastate the US economy.

St Onge states that the US could be heading for a “perfect storm” with the deteriorating real estate market and an unhinged U.S. government debt, with no signs of slowing down.

“When we look at this combination of fiscal inactivity, combined with increasing debt, combined with a weakening commercial real estate market, it’s a very challenging picture. I think it’s fair to say that a perfect storm could be upon us and that it could have very devastating consequences.”

St Onge cautions investors to do their due diligence, noting that the situation is still unfolding and further troubles could be lurking ahead.

Robert Wilson
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