Experts are sounding alarms that the distressed US commercial real estate market could trigger a new banking crisis, if default rates on commercial mortgages rise sharply. Some $929 billion of outstanding commercial mortgages held by lenders and investors will mature in 2024, or 20 percent of the $4.7 trillion total outstanding debt, according to recent data from the Mortgage Bankers Association.Meanwhile, higher interest rates are (CRE) property values across the board, with office buildings hit particularly hard due to the enduring popularity of remote and hybrid working.
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