UAW will own all the malls now too, I guess...
Commercial property defaults are a sign that businesses are
closing up. For each 100 sf of commercial property you are looking at 2-3 jobs gone.
When is the focus going to be Jobs????
Commercial property will only come back when jobs come back.
Auto industry will only come back when jobs come back.
Housing will only come back when jobs come back.
Banking/Finance will only come back when jobs come back.
Mr. Obama where are the jobs you promised?
They estimate a 2-3% default, and wind up with a 7-10% default, trust me they won’t survive. It boils down to whether their ‘estimates’ are anywhere near reality, and as we saw.. these so called smarted folks in finance grossly misestimated the residential real estate troubles, there is absolutely no reason to believe they will be more accurate with their commercial estimates.
>>> the largest U.S. banks showed they can weather the impending tidal wave of defaults expected in the commercial real estate market.
Well of course they can.
The large U.S. Banks will absorb the smaller banks that go default. Fewer choices are good for the consumer, right?
Besides, the US Govt is footing the bill — it’s not like it’s hurting the “little guy”.
Oh, wait a minute... it’s the taxpayer that foots the bill.