⚠️Delinquency Disaster Strikes CMBS!
⚠️Delinquency Disaster Strikes CMBS!
Investor Alert: CMBS Stability in Question!
The office real estate sector is going through a rough patch, particularly with Floating-Rate Office CMBS loans.
20% of these high-stake loans are tumbling into delinquency, compared to a modest 4.7% of their more grounded cousins, the fixed-rate loans.
Across the pond, the Dublin office market is currently doing a high-wire act of its own.
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The city, known for its bustling office market, is now littered with vacancies, ripe for the picking.
Back in the U.S, regional banks like New York Community Bank are shifting their focus away from the quicksand of retail and office loans towards more stable multi-family lending.
In this edition of the AltReports:
💼 Briefcase Blues
💸 Discount Digs
📉 Sales Slump
🧨 Fiscal Fireworks
🎈 Bubbly Blowup
Video of the Week: Proof We Are Headed For Worst Case Scenario!
Chart of the Week: Credit Card Default at Record Levels
Podcast of the Week: Replace Your Six-Figure Salary with Real Estate Investing?
Delinquencies of Floating-Rate Office CMBS Loans Hit 20%
Office real estate is wobbling like a Jenga tower in an earthquake.
Apparently, getting a floating-rate loan for an office tower is now about as savvy as blindfolded tightrope walking.
Delinquencies on these daredevil loans have surged to 20%, while the more pedestrian fixed-rate loans are looking smug at just 4.7%.
Distressed Asset Sales And Price Realism Reignite The Dublin Office Market
Dublin's flashy office scene's hitting a snag, with enough vacant space to host a ghost convention.
Some bigwigs reckon it's time to get real with pricing, while others are just waiting for the market to catch up with their wishful thinking.
Either way, expect some deal hunters to swoop in like vultures on a carcass, hoping to score some prime real estate on the cheap.
All Of Us Are Facing Bankruptcy, Are Facing Foreclosure, Short Sale
With declining sales in SoCal, slipping rents in Silicon Valley, and foreclosure flare-ups in the Sunshine State the housing market is not looking good.
Vocal about vanishing buyers and the lack of affordability, experts are throwing around phrases like 'market malaise' and 'momentum meltdown' with the kind of enthusiasm usually reserved for a root canal.
There is no sugarcoating this —we're knee-deep in slipping stats and enough market mayhem to fill a reality TV season.
CRE Loan Losses Pile Up For NYCB As New Leaders Chart Path To Profitability
New York Community Bank (NYCB) has $798 million in non-performing loans, but they’re not sweating it (publicly, at least).
Instead, they're doubling down, pushing to greenlight more loans this year.
Their game plan is to turn their gaze away from retail and office loans, basically pretending those never happened, and go all-in on multi-family lending.
Housing Bubbles in America Amid the Rate-Cut Mania & Plunge in Mortgage Rates
Mortgage rates teased us with a little dip, but that rate-cut fever turned out to be just a bad case of the sniffles.
So what did all those heady high prices and cheap money get us?
A real estate hangover that's got markets from Frisco to Boston feeling a wee bit wobbly on their feet.