Mar 11th 2010 12:15PM
Desperate to get a principal reduction on your way-too-big mortgage? If only you were a real estate mogul. Just like homeowners, owners of commercial real estate like office and apartment buildings have been walking away from their mortgages. Dow Jones reveals the latest bombshell: Vornado Realty Trust, one of the biggest... Continue Reading »
Feb 24th 2010 10:30AM
Since HousingWatch began, many of us have written about what some experts fear will be the next big real estate crisis: the anticipated (dreaded?) implosion of the commercial real estate market. So, this bit of news from Real Capital Analytics ought not to come as a surprise. For the fourth quarter of 2009, the commercial... Continue Reading »
Feb 16th 2010 10:45AM
Earlier this month new census data revealed that the homeownership rate is plummeting as foreclosures swell. That news buried the other bombshell in the latest numbers: vacancy rates are now soaring for rentals. Nationally, 10.7 percent of apartments are now sitting empty. And in apartment buildings? Vacancies are over 13... Continue Reading »
Feb 12th 2010 11:44AM
A special congressional panel's newly released report is sending shock waves throughout the commercial real estate industry, not to mention causing consternation among many community bankers. It is also generating an abundance of headlines. The message from the Congressional Oversight Panel, which is charged with... Continue Reading »
Feb 2nd 2010 12:35PM
We've been talking about the precarious state of commercial real estate for some time. Now Congress is apparently getting nervous about it, too -- and the very real possibility that whatever is now passing for an economic "recovery" could be derailed rather quickly by a catastrophe in the nearly $7 trillion commercial real... Continue Reading »
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