😨Banking Crisis: CRE Landslide
As commercial real estate values tumble, a staggering $160 billion risk looms over U.S. banks.
Commercial real estate is going through a rough patch, and it's putting $160 billion at risk for the biggest financial institutions.
Banks across the nation are feeling the heat with these souring loans.
This situation is a classic example of history repeating itself, and it's got the big names in finance tightening their belts.
But wait, there's more…
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Foreclosures are making a comeback, and it's not just a small wave – we're looking at a huge surge in at least 30 cities.
Places like Cleveland, Atlantic City, and Jacksonville are topping the charts with the highest foreclosure rates.
Denver's trophy office properties? They’ve gone from sky-high successes to, well, not so much.
And down in LA, top office sales are looking more like discount deals, and savvy investors are cashing in on these prime properties.
In this edition of the AltReports:
🚨 Default Danger
🧾 Lien List
🤢 Souring Skyline
🏙️ Bargain Buildings
📉 Rate Rollercoaster
Video of the Week: REDFIN: The Housing Market is Toast
Chart of the Week: New Monthly Mortgage Payments Have Skyrocketed
Podcast of the Week: How I Bought Rental Properties for 33% Off in a HOT Housing Market
Commercial property values keep going down and banks all over the country are stuck holding the bag with loans turning sour.
Cry me a river, right? The bigwigs at the Office of the Comptroller of the Currency (OCC) are waving red flags, saying banks need to strap their helmets tight.
Why? Because they didn't learn from every other financial faceplant in history.
It's a game of financial musical chairs, and some suits are about to find there's no seat for their portfolios when the tune stops.
Foreclosures are rising again, and we've got the details on which cities are leading this less-than-enviable pack.
Drumroll, please, for the top three: reigning champ, Cleveland rocks the highest foreclosure rate, with Atlantic City gambling away second place, and Jacksonville juggling the third spot.
Denver's high-rise hot mess is on full display.
These monuments to money-making that soared sky-high are now feeling downright down and out.
From filling up with fresh-faced financiers to becoming a hub for cobwebs and crickets, these once bustling hives of hustle are singing a sadder tune.