Thursday, April 29, 2010

Commercial real estate is getting hammered.

In March, the delinquent unpaid balance for CMBS (comercial mortgage backed securities) rose $3.23 billion, up to $51.05 billion from $47.82 billion a month prior, according to Horsham, Pa.-based Realpoint LLC.

Overall, the delinquent unpaid balance is up 268 percent from a year ago and is now more than 23 times the low point of $2.21 billion in March 2007. The distressed 90+-day, foreclosure and REO categories grew in aggregate for the 27th straight month—up by $2.57 billion from the previous month. The total unpaid balance for CMBS pools reviewed by Realpoint for the March remittance was $798.22 billion, up slightly from $797.1 billion in February.

More on this story here.

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Nick Sorrentino is the Editor of The Liberty and Economics Review and CEO of a social media management company.