By Wolf Richter for WOLF STREET. The headlines about residential construction starts this morning were of the-end-is-nigh type: “New-home construction plunges to lowest level since May 2020.” They were triggered by the data from the Census Bureau on […]
By Wolf Richter for WOLF STREET. For well over a year, there has been somewhat of a puzzle: How financial conditions, as tracked by broad measures such as the Chicago Fed’s National Financial Conditions Index, have been getting […]
They’re only a small-ish part of the banking industry’s overall loan book. But some banks are more exposed than others. By Wolf Richter for WOLF STREET. Banks are still very profitable. The industry reported quarterly net income of […]
The Manhattan office tower Blackstone had bought for $605 million in 2014 and abandoned 2 years ago finally changed hands for $200 million, which paves the way for a complex new beginning. By Wolf Richter for WOLF STREET. […]
Multifamily lending ballooned 32% from early 2020, powered by low interest rates and soaring rents. Now there’s a price to pay. By Wolf Richter for WOLF STREET. The multifamily segment of Commercial Real Estate doesn’t face the structural […]
Extend and pretend kicks into high gear. For example, the $975 million mortgage on a San Francisco office tower. By Wolf Richter for WOLF STREET. The portion of the $4.7 trillion in US commercial real estate debt that […]
Japanese, Canadian, and European banks started to confess. And for over a year, huge losses have hit investors, not banks. By Wolf Richter for WOLF STREET. What’s amazing about the mess of the office sector of commercial real […]
Commercial real estate (CRE) has tumbled into a downturn as property values are sliding. This situation worsens because small and regional banks are the biggest source of credit to CRE owners. Over the past three […]
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