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The commercial real estate market was pummeled last year by rising delinquencies, falling tenant cash flows and hard-to-access credit, experts suggest.
And data from research firm Trepp corroborates those findings: the percentage of CRE loans 30 or more days delinquent rose to 6.07 percent in December, a 42-basis-point increase from the month before.
According to the Wall [...]
Existing-home sales dropped 16.7 percent between November and December, the National Association of Realtors reported this week.
The NAR’s sales data underscores the effect that the government’s homebuyer tax credit is having on the housing market. Sales spiked in November as buyers rushed to take advantage of the credit before its expected expiration, NAR chief economist [...]
Continued high unemployment will keep the housing market from rebounding quickly, housing experts said at the International Builders’ Show in Las Vegas this week.
Unemployment stands at 10 percent at present; economists are predicting that it will rise as much as another percentage point this year before slowly declining.
David Crowe, National Association of Home Builders chief [...]
The economy’s fundamentals are improving, the Economic Advisory Committee of the American Bankers Association reports, yet high unemployment and restrained spending will slow down the recovery.
“The normal rapid economic rebound seen in the first year or so following past deep recessions will not occur,” committee chairman Stuart Hoffman suggested.
Conditions are getting better for businesses, the [...]
Commercial mortgage-backed security loan delinquencies finished 2009 at 4.9 percent, Moody’s Investors Service said late last week.
One year ago, the delinquency rate was 0.95 percent. Its nadir was July 2007, when it hit 0.22 percent.
“The delinquency rate will continue to climb in 2010,” Moody’s managing director Nick Levidy said, “to a rate that we project [...]
