Commercial Real Estate Already Gets Hit in Europe: Prices for Retail Properties Plunge, Office Prices Sink by Wolf Richter • May 4, 2020 • 68 Comments “Wide bid-ask spread points to lower values” going forward. It just started.
Can Macy’s Survive this Crisis Without Filing for Bankruptcy? by Wolf Richter • Apr 28, 2020 • 121 Comments Its unsecured bonds crashed 53% since Feb 14. It has been living off its real estate portfolio of “owned boxes” for years by selling them.
How the Unicorn Blowup & Oil Bust Bleed into Commercial Mortgage-Backed Securities by Wolf Richter • Apr 26, 2020 • 178 Comments CMBS get to eat it all: Amid overvalued vacant collateral, there is a new thingy: Tenants delaying rent payments and landlords asking for forbearance.
Mainland Chinese Stop Buying Hong Kong Residential Properties, Try to Unload What They Have, Prices Follow by Nick Corbishley • Apr 21, 2020 • 119 Comments “Some forced selling is highly likely.”
SoftBank’s Fake Startup “Valuations” Come Unglued by Wolf Richter • Apr 13, 2020 • 147 Comments But those paper gains were fun while they lasted.
Construction Activity Plunges in Germany, France, & Italy by Nick Corbishley • Apr 7, 2020 • 33 Comments And construction companies “aren’t expecting a swift recovery.”
Lockdown Hits UK Commercial Real Estate, Retail Landlords & Their Investors: Most Property Mutual Funds Suddenly “Gated” by Nick Corbishley • Apr 5, 2020 • 101 Comments Never before have so many property funds shut the doors on so many property investors.
A Word About Hong Kong’s Retail Sales Collapse: It’s a Mess by Nick Corbishley • Apr 1, 2020 • 57 Comments Sales at luxury goods stores, once the largest category, collapsed by 86% since their peak in 2013-2014.
Post-Lockdown New Normal: Many Brick & Mortar Stores Will Not Reopen, CMBS will Default, Mess to Ensue by Wolf Richter • Mar 30, 2020 • 245 Comments Neither the Fed nor the Treasury can bail out brick-and-mortar retailers.
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.
