San Francisco, California (Pixabay)
(FOX BUSINESS) – The Golden City has been no stranger to the volatile housing market, but one New York City real estate powerhouse led by mother-daughter team Dolly and Jenny Lenz warns San Francisco is now a "disaster" for the industry.
"It was once the jewel and the crown. San Francisco was our personal favorite city, our clients' favorite city. The jewel and the crown is a disaster," Dolly Lenz Real Estate CEO Dolly Lenz said on "The Claman Countdown" Thursday.
"Several huge hoteliers have given back the keys to the lenders" Dolly added. "They just said, You know what, I give up. I paid a billion and a half. You gave me a $700 million loan. I can't afford to make the payments, and you're not going to refinance."
The post Major city's real estate market is a 'disaster,' expert says appeared first on WND.
