Direxion Daily Real Estate Bear 3x (DRV)

[tw0122]

the commercial market is leading the implosion, even in so-called impervious markets, like NYC. Tons of see through space of all flavors in AAA locations, rents dropping like a rock. Masters of the Universe, like Blackstone and Simon, dumping properties BEFORE the interest rates doubled, at huge losses. CMBS is just another bond proxy, getting hammered by that wonderful mixture of rising rates and shitty collateral, a perfect formula for a cascade of Non Performing Loans, as far as the eye can see.