Commercial real estate loan defaults skyrocket
The International Herald Tribune reports: Funding for commercial loans virtually shut down last year as the financial system unraveled.
About $11 billion of distressed commercial property is currently up for sale, compared with a lackluster $2.7 billion worth of properties that were actually sold in February, according to Real Capital Analytics.
A growing imbalance between supply and demand is likely to push down prices in the coming months, analysts say.
Similar to the residential property market, foreclosures and defaults are surging, with nearly $19 billion in commercial real estate loans in default, foreclosure or bankruptcy so far this year, according to Jessica Ruderman, a senior analyst with Real Capital.
View the full article on The International Herald Tribune: Commercial real estate loan defaults skyrocket
Posted by: Nina Turner