Mr Cooper Group Inc (COOP)

[BBANBOB]

BEEN saying the COMMERCIAL PAPER is the next TSUNAMI to hit US and FOLKS IMHO IT WILL BE HUGE with MULTIPLE BIG BANK FAILURES ASSOCIATED WITH IT

Thank you sometimeswrong

The zombie office timebomb: Commercial real estate foreclosures jumped 117% in March - as experts warn it could trigger the next banking crisis

Commercial real estate foreclosures are ramping up across the US as soaring interest rates and the slow return of workers to office spaces begin to take their toll.

There were 625 commercial real estate foreclosures in March - up 6 percent on the month prior and 117 percent from the same time in 2023, according to latest figures from real estate data provider ATTOM.

Some areas are facing a bigger crisis than others - with 187 properties facing a foreclosure filing in California last month, which was the highest of any state. Although this was an 8 percent dip from the previous month, it was a huge 405 percent jump from last year.

Small and regional banks are the biggest source of credit for the commercial real estate market, holding about 80 percent of the sector's outstanding debt.

Around $929 billion in commercial real estate loans is due to mature this year, according to the Mortgage Bankers Association, raising concerns this trouble spot could trigger a banking crisis.


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