The resort and retail markets showed promise, workplace stabilised, and residential remained under strain. The rankings agency previously forecast the office price crash to be worse than 2008’s financial disaster. Earlier this month, Fitch Ratings warned of a rising world contagion risk from business real-estate losses. Through 2024, its estimates that three-fourths of US conduit office loans will default. As COVID-era aid and foreclosure moratoriums helped maintain levels low lately, the current surge might partially reflect some normalization, as has been happening in residential real-estate.
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Several Tim Horton’s clients …