US - Commercial Real Estate & Reits

[behappyalways]

CRE Giant Brookfield Defaults On $161 Million Debt For DC Office Buildings
https://www.zerohedge.com/markets/domin ... -buildings

[behappyalways]

Office Buildings Are Emptying In Major U.S. Cities Like Houston, Dallas, New York And San Francisco
https://www.zerohedge.com/markets/offic ... -francisco

[behappyalways]

'Big CRE Short' Gains Momentum As Vornado Delays Dividend, Shares Plunge
https://www.zerohedge.com/markets/vorna ... re-turmoil

[winston]

Charlie Munger: US banks are ‘full of’ bad commercial property loans

by Eric Platt and Harriet Agnew

Source: Financial Times

https://www.ft.com/content/da9f8230-2eb ... hoo/auddev

[behappyalways]

Blackstone's BREIT Suffers Sixth Consecutive Month Of Withdraws As CRE Deteriorates
https://www.zerohedge.com/markets/black ... teriorates

[behappyalways]

It's about to explode! Morgan Stanley named the price of US commercial real estate to collapse by 40%, which is more violent than the financial tsunami

要爆炸啦! 大摩點名美商用不動產恐價崩4成猛於金融海嘯｜非凡財經新聞｜20230502

https://m.youtube.com/watch?v=ibI4wvb_oHg

[winston]

Next financial crisis is unlikely to be triggered by US commercial property

While it is true that losses in real estate markets led to a global crash in 2008, recent concerns about US commercial property may be misplaced

Other shocks, such as the outcome to the game of chicken over the US debt ceiling and the prospect of Trump as president, could prove more damaging

by Nicholas Spiro

Source: SCMP

https://www.scmp.com/comment/opinion/ar ... e=homepage

[winston]

Why the world should fear a commercial property crash

by Roger Bootle

The usual way to measure value in this market is to compare the spread of the yield on commercial property over the yield on 10-year gilts.

When the commercial property yield almost reached parity with the yield on 10-year gilts in 2007, this was a clear sign of trouble ahead.

Things look more exposed in America. The spread of commercial property yields over 10-year Treasuries (American gilts) is only 0.5pc.

To return the spread to normal, average commercial property prices need to fall from peak to trough by about 22pc. So far, average prices have only dropped by about 7pc, leaving a large fall still to come.

Source: The Telegraph

https://finance.yahoo.com/news/why-worl ... 29488.html

[behappyalways]

New York, San Francisco Office Buildings Are Absolute Ghost Towns
https://www.zerohedge.com/economics/new ... host-towns

[behappyalways]

Building value in 2019 $500m

Today $79m

There’s losses on books that are monumental and no one is talking about it….

https://twitter.com/ReelEstateDude/stat ... 8593488905