Wednesday, Jul 16, 2008
Commercial property hits the front page
Credit Writedowns: Commercial property hits the front page
Stories of commercial real estate distress in the US are mounting. As the residential real estate fallout takes form, commercial real estate has come under pressure as well. The Wall Street Journal has a front-page story out today that highlights the situation in the Sun Belt. We should see the distress in commercial property in bank writedowns very soon.
Posted by edwardnh @ 06:56 PM (264 views) Add Comment
3 Comments
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1. i-cld-murder-a-blt said...
If someone defaults on a loan/mortgage then surely the insurance co coughs up?
2. mark wadsworth said...
Sure, Ed. Commercial property in the UK is down nearly 20% already. Somebody posted a story here recently whereby Barclays (I think) were going to repossess their own head office back from the purchaser.
3. Ajt said...
@Mark
It's HSBC who may repossess their own headquarters as the company they sold it to may default on the loan they got from HSBS to buy the building off them...