Then there is the commercial real estate dilemma. Most banks want toreduce their exposureto this $5.8tn market. A record amount of loans are maturing and need refinancing this year and next. Yet they need interest from the high-yield loans to finance the generous deposit rates required to at...
He noted that banks were already pulling back from lending to commercial developers. “Every bank in the country is way tighter on real estate loans today than they were six months ago,” he said. “They all seem [to be] too much trouble.” Munger grew up in Omaha, Nebraska, a few h...
[1] SeeMore trouble in the office – can the Fed save the CMBS maturity wall?, LSEG, August 2024. LSEG A tale of two US property markets Discover how divergence between commercial real estate (CRE) and house prices creates complexity for the economy and monetary policy. ...
Lodging property prices are down 7% from peak, although that is a far better showing than offices’ 35% drop, per areportby commercial real estate firm CBRE Group Inc. Revenue per available room, orRevPAR, the standard hotel financial gauge, is expected to show 3.0% growth this year, a ...
Late last week, commercial real estate lender New York Community Bancorp, which said it had discovered “material weaknesses” in the way it tracks loan risks, wrote down the value of companies acquired years ago and replaced its leadership. The stock plunged. The company expects to miss a dea...
The Consumer Financial Protection Bureau received nine complaints in 2023 related to HELOCs from Figure Technologies, holding company of Figure. Most complaints were related to trouble with the payment process. The company gave a timely response to all complaints, closing eight complaints with explanati...
These reptiles have roamed the oceans for 100 million years. We've put them at risk, but with a little help, they're rebounding.
Why? Commercial real estate portfolios. A bunch of assholes with investments premised on obstructing all movement towards remote work are pretending that they’re the ones facing destitution if their investments fail, rather than the working poor maybe, just maybe, being more vulnerable than themselv...
First off, if China Development Bank wants to convince the world that it’s not a policy lending arm of Beijing, then it shouldn’t attach this kind of condition to the loan, which a commercial lender would never do. But if the loan does indeed get signed, I can predict that it will...
Much of the worry over US commercial property has centered on the office market. Still, multifamily buildings make up the biggest share of properties with potential distress, with more than $56 billion worth of real estate at risk of financial trouble. When interest rates started spiking two ye...