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Tear Skyscrapers Down, Says Investor Who Predicted 2008 Crash

Kyle Bass, the founder of Dallas-based investment firm Hayman Capital Management, has called for the demolition of office buildings in cities. So reports Bloomberg.

Construction Demolish cancellation g71f956283 640Bass, who famously bet against subprime mortgages before the 2008 financial crisis, said that demand won’t return and it doesn’t make sense to turn most skyscrapers into apartment buildings.

Bass said burgeoning cities like Dallas need multi-family housing but developers are strapped for financing after the Federal Reserve’s rate hikes and the impact of Silicon Valley Bank’s failure.

Read the full article from Bloomberg.

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