I am in a obscure quotations mode today, so please excuse me in advance. No, I am not about to start brushing up on my Shakespeare or start quoting him now. (In fact, I'm not sure I ever even seen Kiss Me Kate all the way through.) But this weekend I had to think about what I have seen the last few years.I know economists have their own definitions of recession and depression and all that. But I also know that you can cook the books on statistics such as unemployment. (This is nothing new, by the way. And thank you, Benjamin Disraeli.) We are seeing more talk of depression-like...
Good news and bad news on CMBS - which is it?
Both, probably, but more good than bad in my opinion.Depending on what you read, CMBS delinquency rates are at an all-time high of 8.71%. This article citing Trepp LLC is the first I came across. And I remember when I said, oh, that 2.1% default rate is not so bad. And Fitch is telling us that the default rate is 9.48%, even closer to the 11-12% predictions that have been out there. So that is bad news, yes? Some call it part of the continuing slo-mo crash. Yes and no.The good news, if you look at the chart, is that the upward trend is flattening. Is that a...