Clouds Part for Commercial Real Estate as Distress Declines in Third Quarter
Wall Street Journal reports: In a recent Wall Street Journal article, writer Anton Troianovski states that, “things are still bad,” but “new data points are painting a picture of slowly moderating pain in commercial real estate.”
The Journal sites Real Capital Analytics’ latest distress update in its US Capital Trends publication as part of its argument that bad times for property investors may be waning: “…the amount of new distress in commercial real estate in the third quarter was the lowest in two years. Some $13.7 billion of distressed situations – such as foreclosure notices, bankruptcies and loan defaults – hit the U.S. commercial real estate market in the third quarter, a roughly 60% decrease from levels seen both in the second quarter of 2010 and the third quarter of last year” stated the Journal in a synopsis of RCA’s monthly distress report, published this month on October 28.
The article also cites other reports from data frim Trepp LLC, on their analysis of delinquency rates, as further evidence that the worst for commercial real estate may have passed.
View the full article on Wall Street Journal: Clouds Part for Commercial Real Estate as Distress Declines in Third Quarter
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Posted by: Nina Turner