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Lehman's bankruptcy was expected to cause some depreciation in the price of commercial real estate. The prospect for Lehman's $4.3 billion in mortgage securities getting liquidated sparked a selloff in the commercial mortgage-backed securities (CMBS) market. Additional pressure to sell securities in commercial real estate was feared as Lehman ...
Three years later, commercial real estate started feeling the effects." [verification needed] [290] Denice A. Gierach, a real estate attorney and CPA, wrote: ... most of the commercial real estate loans were good loans destroyed by a really bad economy. In other words, the borrowers did not cause the loans to go bad-it was the economy. [291]
The commercial real estate collapse has been most evident in the office sector, with vacancy rates at nearly 1.5 times the amount than at the end of 2019, according to a report by real estate firm ...
One 2017 NBER study argued that real estate investors (i.e., those owning 2+ homes) were more to blame for the crisis than subprime borrowers: "The rise in mortgage defaults during the crisis was concentrated in the middle of the credit score distribution, and mostly attributable to real estate investors" and that "credit growth between 2001 ...
The hybrid-work trend and high interest rates have sent commercial real estate values crashing in major cities, with Morgan Stanley warning earlier this year that office prices could face a 30% ...
As the economy tries to rebound from its horrific slump, commercial real estate has remained a potential source of trouble. Both Federal Reserve Chairman Ben Bernanke and Treasury Secretary Tim ...
To achieve these deregulatory aims, the financial industry, including commercial and investment banks, hedge funds, real estate companies and insurance companies, made $1.725 billion in political campaign contributions and spent $3.4 billion on industry lobbyists during the years 1998–2008. In 2007, close to 3,000 federal lobbyists worked for ...
Sooner or later, commercial real estate’s day of reckoning had to come. Following an era of “cheap money” that stretched all the way back to the 2008 housing crash and Great Financial Crisis ...