More CRE data, downfall
By: Myles, February 12th, 2010
The January 2010 Moody’s CMBS delinquency rate hit a record at 5.42%, after posting the largest one month increase (50 bps) in history.
While the deplorable state of CMBS is not a secret to anyone following RealPoint’s monthly delinquency data, getting confirmation from a procyclical firm such as Moody’s should be enough to wake up some of the optimists that even thought “everyone is talking about the commercial real estate” collapse, nothing is being done to actually fix the underlying causes.
Anyone thinking that the rate of deterioration in CMBS is moderating, please take a look at the data which shows the magnitude of the monthly change in the delinquency rate.
Full Moody’s report.
Tags: cre, credit crunch, Market Trends
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