In May, the proportion of late-paying loans on U.S. office buildings rose to 7 percent, almost doubling from 4 percent a year earlier, data service Trepp reported.
Tag: Office Building Bust
TOP TREND 2023, OFFICE BUILDING BUST: PENSION FUNDS STUNG BY OFFICE BUILDING BUST
Government pension funds are hemorrhaging money as the office buildings they invested in are crashing in value.
TOP TREND 2023: OFFICE BUILDING BUST
For the first time since the Great Recession, highly-rated bonds backed by commercial real estate loans are beginning to see losses.
TOP TREND 2023, OFFICE BUILDING BUST: NEAR-RECORD NUMBER OF U.S. OFFICE LOANS TEETERING ON DEFAULT
More than $38 billion worth of loans against U.S. office properties are delinquent in their payments or facing foreclosure or default, according to data service MSCI.
TOP TREND 2023: OFFICE BUILDING BUST
The number of commercial real estate sales in Europe during this year’s first quarter was 26 percent below the same period in 2023, falling to a value of €34.5 billion, the Financial Times reported.
TOP TREND 2023: OFFICE BUILDING BUST
In March, 625 commercial real estate (CRE) properties were foreclosed in the U.S., 6 percent more than in February and 117 percent more than a year earlier, according to real estate data service ATTOM.
TOP TREND 2023: OFFICE BUILDING BUST
In this year’s first quarter, the nationwide U.S. office vacancy rate averaged a record 19.8 percent, Moody’s reported, up from 19.6 percent the previous quarter.
TOP TREND 2023: OFFICE BUILDING BUST
Nationwide, office properties have lost about 20 percent in value since the COVID War made remote work the new normal. However, in some key markets, the plunge has been far more severe.
TOP TREND, OFFICE BUILDING BUST: PENSION FUND DUMPS OFFICE
The Canada Pension Plan Investment Board (CPIB) was one of the earliest pension funds to put money into commercial real estate, inspiring others around the world to do the same.
TOP TREND 2023 OFFICE BUILDING BUST: COMMERCIAL REAL ESTATE CRISIS COMING
About $929 billion in commercial real estate loans are coming due this year, the Mortgage Bankers Association (MBA) says, a jump of more than 40 percent from the $659 billion the group had estimated previously.