🚨 Biggest Buyer Discounts in 12 Years
The market froze but the distress didn't.
Banks are sitting on $7.1 billion in seriously delinquent multifamily loans and the losses are compressing faster than anything we saw during the 2008 financial crisis.
One lender already read the writing on the wall and shut down completely this week.
And buyers who showed up to the table this month walked away with $32,000 off list price.
The sellers behind those discounts are running out of options.
Here is where that distressed inventory is starting to move and who is positioned to catch it:
In this edition of the AltReports:
🔑 Discounts Deepen
🏦 Banks Break Point
🚪 Lenders Exit
📉 Demand Hits Floor
👷 Jobs Revised Down
💀 Zombies Concentrate
Video of the Week: Coming Wave Of Distressed Sellers To Tank Home Prices
Chart of the Week: Multifamily delinquencies increased by 3.4x in just two years.
Podcast of the Week: Banks Are Dumping 1000s OF FORECLOSURES Every Month - GET READY
Biggest Buyer Discounts in Over 12 Years Signal Full Shift to Buyer’s Market
The average buyer is now receiving a 3.8% discount off list price, translating to roughly $16,000 on a median priced home, with motivated seller negotiations pushing discounts as high as $32,000.
Banks Holding $7.1 Billion in Seriously Delinquent Multifamily Loans as Loss Cycle Accelerates
Community, commercial, and savings banks are collectively sitting on $7.1 billion in multifamily loans 90 days or more past due, a delinquency rate that has risen to a post-Global Financial Crisis high.
City Lending Closure Signals Tightening Credit Access for Independent Mortgage Banks
Virginia-based City Lending shut down operations after originating $232 million in mortgages over the past year, citing regulatory strain and ongoing consolidation across the independent mortgage banking sector.
Pending Home Sales Hit Record Low as Demand Refuses to Recover
The South and Northeast posted the sharpest monthly declines, and cancellation rates remain elevated as buyers walk away from contracts over insurance costs and affordability strain.
Job Revisions Signal Deeper Stress Ahead for Commercial Real Estate
The BLS quietly revised 2025 job growth down from 584,000 to 181,000, making it the weakest year for employment growth outside a recession since 2003.
Zombie Foreclosures Stay Low But Distressed Pipeline Remains Active
Institutional investor-owned properties are sitting vacant at nearly three times the rate of owner-occupied homes, with Indiana, Illinois, and Alabama leading vacancy levels across investor portfolios.