US Office CRE Mess Is Spread Far and Wide across Investors & Banks Globally. US Banks Eat only a Portion of the Losses

What’s amazing about the mess of the office sector of commercial real estate (CRE) is just how far and wide these mega-losses – by some estimates, they may ultimately amount to $1 trillion, or whatever – are spread in diced and sliced form globally. Which is a good thing for US banks.