German bank braces for wave of bad loans in ‘greatest real estate crisis since the financial crisis’ | CNN Business
Deutsche Pfandbriefbank, or PBB, a German lender focused on real estate, has set aside more money for bad debts as it braces for what it says is the worst decline in commercial property values in 15 years. PBB increased its provisions for losses on loans in the fourth quarter of 2023, taking the total set aside for the year to as much as €215 million ($231.7 million), it said in a statement Wednes
Evergrande’s bankruptcy may be just the beginning of China’s real estate crisis | CNN Business
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‘Underground climate change’ is deforming the ground beneath buildings, study finds | CNN
“Deformations caused by underground climate change are relatively small in magnitude, but they continuously develop,” he said. “Over time, they can become very significant for the operational performance of civil infrastructure like building foundations, water retaining walls, tunnels and so on.” But underground climate change is not the same as what we think of as climate change in the atmosphere
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