In an interview on Fox News, Elon Musk talked about a wide range of topics. One part in particular stood out to me - and that was that Elon is really worried about the impact of the commercial real estate crisis that has been talked about for a few weeks now. How does he think it could affect the economy and especially the banks?
"The worst is not yet over in commercial real estate. The things we have seen so far are only a slight degradation of the real estate portfolio. But that's going to become a very serious thing later in the year, in my view."
https://www.youtube.com/watch?v=MpSvyWLEu8M
He pointed out that the work-from-home trend has significantly reduced the use of office buildings around the world. And that doesn't bode well for commercial real estate.
This, he says, is another of the downsides of working from home. Elon Musk has long been a critic of the home office, and for several reasons.
Productivity drops when people work from home. They work less efficiently with longer…