Third Wave of Hotel CRE Defaults Has Started, Triggered by CMBS Maturities and Variable-Rate Mortgages by Wolf Richter • Jul 11, 2023 • 121 Comments CMBS holders are on the hook, not banks. Investors in hotel REITs have gotten totally crushed.
CRE Nightmare for CMBS Holders: Office Mortgage Delinquency Rate Has Biggest Six-Month Spike Ever. It’s just the Beginning by Wolf Richter • Jul 5, 2023 • 133 Comments And it’s structural. Variable-rate CRE mortgages and much higher rates just speed up the process.
Construction Spending on US Manufacturing Plants Soars, to De-Globalize Supply Chains? by Wolf Richter • Jul 3, 2023 • 188 Comments The driver: computer, electronic, and electrical manufacturing.
Revenge of the Variable-Rate Commercial Debts by Wolf Richter • Jun 28, 2023 • 121 Comments Most people in finance today cut their teeth in the era of Easy Money, when history books were thrown out the window. But that era is over.
THE WOLF STREET REPORT: Revenge of Variable-Rate Commercial Debts by Wolf Richter • Jun 24, 2023 • 160 Comments Most people in finance today cut their teeth in the era of Easy Money, when history books were thrown out the window.
Not a Recession Scenario: Multifamily Construction Starts Spike to Highest since 1986, Single-Family Starts Bounce by Wolf Richter • Jun 20, 2023 • 204 Comments Another sign the economy is flying a cruising altitude and refuses to land, even with short-term interest rates over 5%.
I’ve Had it with Stupid Stuff about Hotels in San Francisco: Park Hotels & Wall Street Screwed Shareholders, Bond-Fund Holders, and Pension Funds, but Blame San Francisco? by Wolf Richter • Jun 12, 2023 • 127 Comments The clueless WSJ reporter needs to be taken to the woodshed. That kind of BS article doesn’t belong in the WSJ.
Commercial Real Estate Woes in the Stock Market: Office REITS by Wolf Richter • Jun 9, 2023 • 113 Comments But the dividends are so sweet – until they get cut or “suspended.”
What Are Older Office Towers Worth in the New Era? Second San Francisco Office Tower Sells for 70% Off Original Listing Price by Wolf Richter • Jun 5, 2023 • 125 Comments And nearly 60% off the purchase price in 2005. Price discovery sets in. Deals are being made.
What Are Manhattan’s Older Office Towers Worth? First Benchmark Prices in the New Era by Wolf Richter • May 30, 2023 • 76 Comments Whoever buys the defaulted loan gets the tower. So far, investors and specialized lenders have been on the hook, not commercial banks.
