Office CMBS Delinquency Rate Spikes to 9.4%, Highest Since Worst Months after the Financial Crisis by Wolf Richter • Nov 4, 2024 • 98 Comments “Survive till 2025” is the motto in CRE now, but that might not work either.
Epic Office Glut Hits Records in San Francisco, Atlanta, Chicago, Los Angeles, Seattle, Washington DC. Dallas Availability Rate Dips to 30%, Houston rises to 29% by Wolf Richter • Oct 1, 2024 • 44 Comments The “war for space” before the pandemic unravels into biggest office glut ever.
CRE Mess Not Letting Up: CMBS Delinquency Rates Jump in September as Office, Retail, and Lodging Deteriorate Further by Wolf Richter • Sep 30, 2024 • 57 Comments Rate cuts cannot fix the structural issues crushing office & retail CRE. But industrial, fueled by ecommerce, is in good condition.
Construction Spending Squeaks to Record amid Eyepopping Boom in Spending on Factories while Residential Construction Tries to Dig Out of Last Year’s Slump by Wolf Richter • Sep 3, 2024 • 43 Comments Majority of construction spending goes into nonresidential, dominated now by a spending spree on factories.
Plunge of Single-Family Construction Starts in July Was Huge Outlier. See Hurricane Beryl. Multifamily Jumped 45% from March Low despite CRE Depression by Wolf Richter • Aug 16, 2024 • 43 Comments What we’re worried about and what we’re not worried about.
Values of Old Office Towers Go to Near-Zero, but the Land Has Value: UBS Gets Off with Black Eye by Wolf Richter • Aug 1, 2024 • 85 Comments Huge loss on the building, small gain on the land in separate transactions.
CRE Gets Strangled, Corporate Bankruptcies Highest since 2010, but Junk Bonds & Broad Financial Conditions in La-La-Land by Wolf Richter • Jul 22, 2024 • 89 Comments The big divergence.
Simon Property Group Jettisons another Mall, to Manage its Way through the Brick-and-Mortar Meltdown by Shrinking and Walking away from Debts by Wolf Richter • Jul 15, 2024 • 86 Comments The largest mall landlord has shed 38% of its shopping centers since 2012. It saw what was coming. So here’s one more.
Who Made or Lost What between Brookfield, Starwood, MetLife? An Office CRE Deal of the Low-Interest-Rate Era Gets Shredded in Foreclosure by Wolf Richter • Jul 8, 2024 • 59 Comments One thing’s for sure: Low interest rates turned investors’ brains into mush.
It Gets Still Messier with CRE Loans, Bottom Not in Sight: CMBS Delinquencies for Office, Retail, Lodging Lead the Parade by Wolf Richter • Jul 2, 2024 • 86 Comments So let’s extend and pretend, please? But industrial still in pristine condition, multifamily limping along.
