Commercial real estate heading South
2008-12-08 — ml-implode.com
The default rate on commercial mortgage debt has remained near historic lows, even while residential-related debt suffered a severe downturn.
But that is now beginning to change, sending new shock waves into much-battered banks, private-equity funds and other financial institutions that participate in the $1 trillion commercial real-estate debt market.
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Defualt rates have actually only gone uo .06% as of the 3rd quater 2008, per the mortgage bankers associations report.