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The Incoming Commercial Real Estate Crisis No One Seems Prepared For
The Incoming Commercial Real Estate Crisis No One Seems Prepared For ‘I think that there’s more to come,’ said Peter Earle, research fellow at the American Institute for Economic Research. It has been a year since a string of U.S. regional bank failures, together with the collapse of global heavyweight Credit Suisse, caused many to […]
The Meltdown of Commercial Real Estate
The Meltdown of Commercial Real Estate Commentary In case you’ve still got money in a bank, Bloomberg is warning that defaults in commercial real estate loans could “topple” hundreds of U.S. banks. Leaving taxpayers on the hook for trillions in losses. The note, by senior editor James Crombie, walks us through the festering hellscape that is […]
Dominoes: After NYCB, Shares Of Japanese Bank Implode On Massive US CRE Writedown
Dominoes: After NYCB, Shares Of Japanese Bank Implode On Massive US CRE Writedown Following a profit warning from New York Community Bancorp on Wednesday, partially attributed to turmoil in the commercial real estate sector, Japan’s Aozora Bank Ltd. slashed the value of some of its US office tower loans by more than 50%, according to Bloomberg. New York […]
The Canary In Coalmine: Bank OZK Plummets After Shock Commercial Real Estate Write Downs
The Canary In Coalmine: Bank OZK Plummets After Shock Commercial Real Estate Write Downs In what may be the deadest canary in the commercial real estate coal mine yet, Bank OZK shares have plunged 26% today after the bank reported abysmal third-quarter earnings that trailed expectations, with net income tumbling but what caught traders’ attention […]
A Contagious Crisis Of Confidence In Corporate Credit
A Contagious Crisis Of Confidence In Corporate Credit Credit is not innately good or bad. Simplistically, productive Credit is constructive, while non-productive Credit is inevitably problematic. This crucial distinction tends to be masked throughout the boom period. Worse yet, a prolonged boom in “productive” Credit – surely fueled by some type of underlying monetary disorder – can […]
Negative Interest Rates Already In Fed’s Official Scenario
Negative Interest Rates Already In Fed’s Official Scenario Over the past year, and certainly in the aftermath of the BOJ’s both perplexing and stunning announcement (as it revealed the central banks’ level of sheer desperation), we have warned (most recently “Negative Rates In The U.S. Are Next: Here’s Why In One Chart”) that next in […]
Alberta Loses Most Jobs In 34 Years As Oil Crunch Cripples Labor Market
Alberta Loses Most Jobs In 34 Years As Oil Crunch Cripples Labor Market Times are tough in Alberta and to be sure, we’ve piled it on heavy when it comes to cataloguing the long list of pitiable outcomes that have accompanied crude’s steep slide. The province is at the center of Canada’s dying oil patch […]
“Canadians Should Be Concerned” As Energy Sector Job Losses Spike To 100,000 This Year
“Canadians Should Be Concerned” As Energy Sector Job Losses Spike To 100,000 This Year It’s grim up north… and getting grimmer. Amid soaring suicide rates, Canada’s once-booming oil patch is rapidly accelerating its downward trajectory. “Canadians should be concerned in times like these,” warned Tim McMillan, president and chief executive of the Canadian Association of Petroleum Producers, noting […]
Suicides In Alberta Soar In Wake Of Canada’s Oilpatch Depression
Suicides In Alberta Soar In Wake Of Canada’s Oilpatch Depression Over the past year, we have extensively chronicled the tragic story of Alberta – Canada’s once booming oilpatch – disintegrate slowly at first, then very fast, into an economic and financial wasteland: “Canada Crude Contagion: Calgary Home Prices Drop Most In 2 Years” “Canada’s Biggest […]
“It’s A Bloodbath” – Here Is The Biggest Casualty Of Canada’s Recession
“It’s A Bloodbath” – Here Is The Biggest Casualty Of Canada’s Recession In the past year, we have extensively profiled the collapse of ground zero of Canada’s oil industry, Calgary, as a result of the plunge in the price of oil, in posts such as the following: “Canada Crude Contagion: Calgary Home Prices Drop Most […]
“Bank Failures and Systemic Breakdowns”: Regulator Warns on Autos, Subprime, Commercial Real-Estate…
“Bank Failures and Systemic Breakdowns”: Regulator Warns on Autos, Subprime, Commercial Real-Estate… If you look at auto sales, which are flirting with all-time highs, and at commercial real-estate prices, which are way beyond all-time highs, and if you look at the loans, including subprime, that make it all happen, you’d think the US economy is […]
