📝 Why San Francisco should spook every REIT investor who’s not paying attention - btbirkett@gmail.com - Gmail

📝 Why San Francisco should spook every REIT investor who’s not paying attention - btbirkett@gmail.com - Gmail

Will the last person in San Fran turn out the lights?

Park Hotels & Resorts, Inc., one of the country's largest publicly traded REITs, has stopped making payments on “both its 1,921-room Hilton San Francisco Union Square and 1,024-room Parc 55 San Francisco properties and expects to remove them from its portfolio, citing several ‘major challenges’ in the California city.” (Read) Not that this is a surprise. Crime, personal safety concerns, and drugs... just aren’t the tourist attraction you’d think.  We’ve talked since the beginning of COVID about the real estate crash that now looms over our country. And along the way, I’ve repeatedly recommended every investor seek alternative REITs to avoid it. Upgrade to Paid The way I see it, SF is the proverbial canary in the coal mine. Putskies or at least an inverse fund may be worth a look. I’m also beginning to wonder about municipal bonds and CA state debt (again). Sigh.