💥 Commercial Crash & Milwaukee's Motel Meltdown
Uncover Bargains in CRE & Hospitality Havoc!
Have you heard the latest buzz in the commercial real estate world?
There’s been a massive spike in foreclosures and it's not just the big, flashy office buildings that are feeling the heat.
Even those quaint little standalone properties are getting swept up in this wave.
With commercial bankruptcies shooting up by 106% compared to last year, it's a ripe playground for distressed property investors.
And speaking of opportunities…..
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The Milwaukee hotel scene there is hitting a bit of a rough patch with refinancing challenges.
This means some big players might have to give up their keys if they can't fix their finances.
And then there's this jaw-dropping $684 billion bump in bankers' balance sheets!
In this edition of the AltReports:
🛠️ Foreclosure Fixers
🛎️ Refinancing Roulette
🔀 Fickle Finances
💸 Billions Bonfire
👀 Spectator Sport
Video of the Week: Something Malicious is Happening in The Housing Market
Chart of the Week: Mortgage Demand Hits 1995 levels
Podcast of the Week: The New California Gold Rush
The National REO Brokers Association (NRBA) is all abuzz because, as 2023 winds down, the commercial real estate (CRE) market is turning into a foreclosure fiesta.
It's not just the big, flashy office spaces feeling the pinch; those cute little standalone buildings where small businesses hang their shingles are also getting snatched up and flipped.
And the stats back it up, commercial bankruptcies skyrocketed by 106% in October 2023 compared to last year.
Milwaukee's hotel scene might be hitting the snooze button hard.
Their hotel honchos are sweating through the sheets, trying to refinance their pricey properties, or else they might have to hand over the keys.
If they can't smooth talk their money friends, we might see more "Closed" signs than "Do Not Disturb" hangers.
All right, everyone, put your party hats on—said no one ever while reading mortgage reports.
But here's the lowdown:
We're witnessing a 26% year-over-year nosedive and a whopping 63% plummet from the 2021 heydays.
Purchase and home-equity lending both got a 7% haircut while refinancing alone strutted into the spotlight with a 5% bump—but still, it's nothing to tweet about.