Greece is certainly far away from California, but that doesn’t mean the financial crisis that country is facing won’t impact our economy.
The government today closed banks across the country as well as its stock exchange, and the move has already impacted markets in Asia. Analysts say that it will also have an impact in the United States.
Obviously, this could reverberate in the commercial real estate world because it could impact lending in the United States because of wider international fears. And if the stock market goes South as a result REITs could feel pressure as well.