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Covid-19 likely to hit real estate, office loans: Fed

Small businesses may be threatened even with promised federal aid, adds Boston Fed Reserve's Eric Rosengren

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Mr Rosengren says effects of the crisis may prove persistent, with housing and office building prices likely to fall, and commercial real estate remaining depressed if people continue to work from home.

Boston

THE ongoing coronavirus pandemic in the US is likely to cut home and office building prices, may lead to a permanent shift in the demand for office space, and could push highly indebted households and companies towards default, said Boston Federal Reserve bank president Eric...

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