US real estate crisis: German banks also affected - “Serious concerns”. In January 2023, office occupancy in the ten largest cities in the USA was only around 50.4 percent, reports the Washington Post.
The trend towards working from home has become more widespread in the U.S. than in Germany, and many offices are empty. This brings back memories of the global financial crisis of 2008, which led to billions of euros in write-offs in the commercial real estate market.