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Metropolitan DC Local Politics
Reply to "Downtown DC is a storefront ghost "
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[quote=Anonymous]The CRE industry still needs to work through refinancing these properties. Or defaulting, tearing down, etc. which could take years or decades as loans come due. Few if any conversions or other renovation projects can be financed in the current environment. Once rates go down in the next year or so, there could be a little more hope for downtown buildings. I’ve heard that 30% of all office buildings in the nation should be demolished. So we have lots to change before things look up.[/quote]
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