Head Topics

Commercial real estate could see 10% price crash, defaults: Zandi

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 11 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 8%
  • Publisher: 51%

United States Headlines News

Commercial real-estate prices could tumble 10% from their peak and defaults are sure to increase, Moody's chief economist says

Prepare for a 10% drop in commercial real-estate prices from their peak, and a wave of defaults, according to Moody's chief economist. , Mark Zandi highlighted concerns that commercial real estate could be the"next shoe to drop" in the economy after the banking sector was engulfed in turmoil following the collapse of Silicon Valley Bank.

"Demand for space is weak due to remote work and online retailing. Lots of multifamily units are being built. And credit to refinance and purchase properties is tough to get," he said.

Source: Financial Digest (financialdigest.net)

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

US mortgage rates could top 7% if debt default appears likely: ZandiUS home prices could plunge with mortgage rates topping 7% if a debt default even appears likely, Moody's chief economist says
Source: BusinessInsider - 🏆 729. / 51 Read more »

Bears officially sign No. 10 overall draft pick WrightThe Bears officially signed No. 10 overall draft pick Darnell Wright to his rookie contract, the team announced Monday. Wright was one of three draft picks who officially signed their contracts Monday.
Source: dailyherald - 🏆 317. / 59 Read more »

American Gangster True Story: 10 Biggest Changes The Movie MakesDenzel Washington stars as mobster Frank Lucas in American Gangster, which is based on a true story. But how much of the movie actually happened?
Source: screenrant - 🏆 7. / 94 Read more »

10 Groovy Ways Bruce Campbell's Ash Can Return In Evil Dead Rise 2Evil Dead Rise 2 is inevitable, and there are several ways that it could bring back the franchise's original protagonist, Ash Williams.
Source: screenrant - 🏆 7. / 94 Read more »

Track & field: Top 10 boys, girls standout performances from Week 6′s meetsHere are the ones who shined most in Week 6.
Source: njdotcom - 🏆 282. / 63 Read more »

TikTok’s Hottest Beauty Trends: 10 Affordable Alternatives You Should Know AboutWe’ve rounded up the best dupes for some of TikTok’s hottest beauty finds.
Source: billboard - 🏆 112. / 63 Read more »