re: A debt 'time bomb' looms for New Orleans' downtown office market

I'm no expert on CRE, but from what I've read/listened to, it seems like it's an industry that's developed really bad habits in how they engage day to day. Like a literal constant debt shuffle and re-negotiation but always carrying huge debt.

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Not as many folks work in the office anymore. It’s a bad situation.

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And the City of New Orleans is not helping. All of the tax credited low income housing inserted into the center of downtown has destroyed the cohesiveness of the Central Business District. People are leaving downtown because it is unclean, unsafe, and no longer the hub for doing business. The latest rumor is the old United Fruit Company building--situated in between Pan Am, Shell, and Place St. Charles and some upscale hotels--will be developed for low income housing. Plop that down in the middle of the CBD and those businesses that remain will be driven out.