Four Mortgage REITs Collapse After Chaos Hit Markets for Residential & Commercial Mortgage-Backed Securities by Wolf Richter • Mar 24, 2020 • 187 Comments In good Financial Crisis manner, stuff blows up despite the Fed’s effort to stem the chaos. Now hoping for taxpayer bailouts.
Coronavirus May Deliver Coup de Grace to Overrated Commercial Mortgage-Backed Securities (CMBS) by Marc Joffe • Mar 24, 2020 • 72 Comments S&P made up for its tardiness by downgrading the CMBS in one fell swoop by 9 notches from AAA to BBB-, just one notch above junk.
After Epic “Run on the Funds,” 10 More Real Estate Mutual Funds Shuttered as COVID-19 Batters UK Property Values by Nick Corbishley • Mar 20, 2020 • 83 Comments Triggered by the belated realization of the risks in mutual funds that offer daily liquidity but invest in illiquid assets.
How a Landlord of Neighborhood Malls Deals with the Lockdown Crisis his Tenants Face by Wolf Richter • Mar 19, 2020 • 84 Comments “Our Retail Marshall Plan.”
What Sequoia Capital’s “Black Swan” Memo Means for Unicorn-Hotspots Like San Francisco, Silicon Valley & Others by Wolf Richter • Mar 6, 2020 • 183 Comments “False optimism can easily lead you astray and prevent you from making contingency plans or taking bold action.”
Hong Kong’s Real Estate – Housing, Office & Retail Properties – Face “Tsunami-Like Shocks” by Nick Corbishley • Feb 24, 2020 • 61 Comments At first the protests and now the coronavirus collide with the World’s Most Expensive Property Market.
WeWork Debris Hits Bystanders: Two More Real-Estate Mutual Funds “Gated,” This Time in Ireland. Fitch Warns of Contagion by Nick Corbishley • Feb 7, 2020 • 68 Comments “We regard liquidity mismatches as a major structural flaw.”
Real Estate Developer: Why I Value my Properties Conservatively by John McNellis • Feb 1, 2020 • 48 Comments As with the millions who subtract pounds and add inches to their dating site profiles, it’s very tempting to push values.
Australian Construction Giant CIMIC Writes Off Disastrous Arabian Adventure, After Being Bludgeoned over Opaque Debts by Nick Corbishley • Jan 24, 2020 • 27 Comments Shares plunged 20% on the spot, and are down 44% in nine months.
What to Do with Malls? Teetering UK Mall Giant Intu Asks Investors for £1 Billion. Shares Drop to Near-Nothing by Nick Corbishley • Jan 21, 2020 • 66 Comments Brick & Mortar melts down on mall owners. So “repurpose” malls into housing?
