In January 2010, the delinquent unpaid balance for CMBS increased by another $4.3 billion, up to $45.94 billion from $41.64 billion a month prior.
Mar 04
“There's been an enormous bubble in commercial real estate, and it has to come down,” said Elizabeth Warren, chairman of the Congressional Oversight Panel, the watchdog created by Congress to monitor the financial bailout. “There will be significant bankruptcies among developers and significant failures among community banks.”
Feb 09
Talk about falling rents … Doug in Chicago sends along this photo “a storefront in a normally bustling neighborhood retail district on North Clark St in Chicago, about a mile south of Wrigley Field”
via Calculated Risk
Feb 08
Even the pros are taking a beating. The Mortgage Bankers Association, its membership expert in real estate, sold its $90 million headquarters in downtown Washington on Friday for $41 million.
via washingtonpost.com.
Jan 03
While the commercial real estate world has cooled off so fast that it’s on the verge of a trillion-dollar implosion, instability is the only certainty. Trillions of dollars of commercial building debt is going to come due in the next few years, and not every property owner is going to be able to hang on.
Dec 02
The firms, which together have taken more than $110 billion in capital infusions from the Treasury, stepped up their lending for apartment buildings as the commercial real-estate market peaked, and they are now facing rapidly rising loan losses.
via WSJ.com.
Nov 27
On October 30, 2009, the Federal Deposit Insurance Corporation, in coordination with other federal bank regulatory agencies, released guidelines on prudent commercial real estate loan workouts.
Nov 23
The volume of distressed commercial properties—offices, retail buildings and industrial properties in danger of foreclosure—will likely increase substantially in 2010
via Topix.
