Global Multi-Asset Investment Strategist, True Insights

Jeroen Blokland

All-round Multi-Asset investor. Former head of a EUR 5 billion multi-asset fund range. Speaker. Charts & Frameworks. Founder of True Insights, a provider of independent investment research, trade ideas & well-diversified portfolios.
https://true-insights.net/

Global Multi-Asset Investment Strategist

Weekly Market Monitor (16) - The Odds of a Recession Is Rising; Earnings Just Don’t Know It Yet

Operating Leverage in Reverse: The Impact on Equity Markets

Weekly Market Monitor (17) - Banking Anxiety – Back with a Vengeance!

Eurozone Deposits Stable, but a Lot Is Happening Underneath

An Evidence-Based Framework to Determine if This Is a Systemic Banking Crisis

Banks Vs. Market: A Closer Look at Equity Risk Premia and Other Valuation Measures

Build Well-Diversified Multi-Asset Portfolios

True Insights

Our research helps investors build well-diversified multi-asset portfolios and profit from market developments. In addition, our unique and proven Macro – Sentiment – Valuation (MSV) investment framework ensures a consistent flow of new investment opportunities. Together with our market views, these opportunities will be reflected in our live ETF-based Global Multi-Asset Portfolios.

Thematic (Sector/Industry)

United states Office reits / Thematic (Sector/Industry)

<ul>
<li>Working from home in the San Francisco Metro area is not extreme.  The office occupancy rate in all top ten US metro areas is 50% below pre-Covid levels.</li>
<li>USD 2.5 trillion of CRE debt will mature in the coming five years and will have to be refinanced at much higher interest rates or doesn't get refinanced at all.</li>
<li>Value declines will force CRE borrowers to add capital or hand in the keys, which is bad news for US regional banks providing nearly 70% of CRE loans.</li>
</ul>


Working from home in the San Francisco Metro area is not extreme.  The office occupancy rate in all top ten US metro areas is 50% below pre-Covid levels.
USD 2.5 trillion of CRE debt will mature in the coming five years and will have to be refinanced at much higher interest rates or doesn't get refinanced at all.
Value declines will force CRE borrowers to add capital or hand in the keys, which is bad news for US regional banks providing nearly 70% of CRE loans.


‘No,’ San Francisco Is Not a Commercial Real Estate Outlier!