not know that it IS time to panic...
These three charts just released by Kieth Jurow are bluntly, not just, stunning.
The first chart shows U.S. the total collapse of CRE sales - that one we knew about.
The second chart shows U.S. delinquencies for THIS Last YEAR have tripled...!!!
That we did not know about, bcuz they are not reporting that.
The third chart shows U.S. the maturity dates for all commercial RE loans.
{most CREs are 5 year balloons, that have to paid or rolled over}
That is US$ 1.730 Trillion in CREs that have to dealt with in this and the next 5 years.
And, as the 2rd chart shows U.S. most of that is held by banks.
As Keith said: "Perhaps it is time to batten down the hatches."
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JGBHimself on Jun 30, 4:08 PM said:
Kieth, here in SE Phoenix there are five completed corner office complexes within two miles of me, that have not had even ONE (1) tenant since we arrived down here three years ago. They all still have rental signs out there, none have been foreclosed on, yet. Why? Bcuz they cannot be rented, at any price; and they cannot be sold for what it cost to build them, so who would want to take them back - what would THEY do with them.
God only know what they were/are smoking, or where they got it.
But, if we were to believe the Gov of AZ, "it" was recently carried across the Mexican border.
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If There's A Bottom In Sight For Commercial Real Estate, We Can't See It
http://www.businessinsider.com/a-bottom-in-sight-for-commercial-real-estate-2010-6
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