Skip to comments.Commercial Real Estate Clouded by Delinquencies
Posted on 05/05/2011 8:07:28 AM PDT by TigerLikesRooster
Commercial Real Estate Clouded by Delinquencies
Published: Wednesday, 4 May 2011 | 1:28 PM ET
By: Diana Olick
CNBC Real Estate Reporter
Barely a few minutes after reading an article in the Wall Street Journal about banks finally opening the "spigot for commercial real-estate," the folks over at Trepp issued their monthly report on the delinquency rate for commercial mortgage backed securities (CMBS); let's just say it isn't good.
After two months of very minimal rate increases, the number jumped in April, 23 basis points, to 9.65 percent, "the highest reading in the history of the CMBS market," according to Trepp.
(Excerpt) Read more at cnbc.com ...
I said a long time ago when the commercial foreclosures start it will be a mess, it is more than that, you can bank on it, that is probably just the started subdivisions.
Actually I did not expect it to have gone under the radar this far.
What blows my mind is that I still see new commercial developments being built out.
This pot has been simmering for such a long time. I don’t know how the Obama administration has kept the lid on the pending disaster.
Another bailout that doesn’t create any jobs - just makes the union pension fund whole!
Years old blah blah blah.
This topic has been well discussed on FR for over a year. I think the slight uptick in the economy last year allowed for some "can-kicking down the road", much like thousands of loan mods done on home mortgages.
Union pension fund? Sure thing. It’s the banks they’ll be saving with another bailout.
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