Charlie Munger talks about the 2023 real estate crash. In a recent interview with the Financial Times (FT), Charlie Munger talked about what he is seeing in the commercial real estate market. Billionaire investor Charlie Munger just issued a dire warning about what’s ahead for the US real estate market. Unlike most people who issue these types of predictions, Munger actually knows a thing or two about the topic. Before Charlie Munger rose to fame as the Vice President of Berkshire Hathaway and Warren Buffett’s right hand man, he was a real estate investor. In fact, Munger is still investing in real estate today. A firm that he invests in is one of the largest owners of apartment buildings in Southern California. This is why it got my attention when Munger warned about what is happening right now in the real estate market during a recent interview with the Financial Times. The impacts of which will be felt way beyond just real estate, sending ripple effects throughout the economy. Using his words, there is a lot of “agony” and pain out there in the real estate market right now, and it’s only about to get worse.
There are different types of commercial real estate. The types include multifamily (apartments), office, retail, and industrials. Charlie Munger talked about how some of these different types of real estate are struggling right now, office and retail especially.
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