Commercial Real Estate

Grew up with a regular joe kid who got himself into CRE right out of High School. He was a self made millionaire several times over and lived in a $10 mill mansion with separate his and hers gyms and an indoor salt water swimming pool. It was like he was looking for ways to spend it on pointless things. He has had to downgrade his living arrangements a few times over the last several economic downturns, though he has remained in the millionaire class and has been for 40 years. I wonder though where it stops for him if it bottoms out and the general economy goes down too. Did he pay off whatever property he owns or has he leveraged against his own homes? I doubt anyone doing as well as he was would look at or consider gold as a hedge, so he may be pauperized if he didn’t play his cards right. I don’t wish him ill, he was always a good kid when I knew him

can you say implosion? the silent depression we’ve been in for a couple years expands.