I gotta make a new one - he helped to spoil Christmas but Joe's disaster keeps on giving the whole year 'round - just like The Jelly of The Month Club
Posted on 02/27/2024 3:43:03 AM PST by george76
The last time that commercial foreclosures were this high was in May 2015, per agency data..
Commercial real estate foreclosures in the U.S. increased 97% in January 2024 compared to last year, reaching a high that has not been seen in nearly a decade, according to new data.
With 635 commercial foreclosures in January 2024, foreclosures increased 17% from December 2023 and 97% from January 2023, according to a report last week from property data analyst ATTOM.
The last time that commercial foreclosures were this high was in May 2015, per agency data.
"This uptick signifies not just a return to pre-pandemic activity levels but also underscores the ongoing adjustments within the commercial real estate sector as it navigates through a landscape transformed by evolving business practices and consumer behaviors," ATTOM CEO Rob Barber said.
Commercial properties are not the only ones affected by foreclosures.
In January 2024, 33,270 U.S. properties, including residential homes, had foreclosure filings, which is up 10% from December and 5% from the same time the previous year, per another ATTOM report.
The increase may be due in part to normal post-holiday filing progressions, Barber said. "However, other external factors may be at play such as escalating interest rates, inflation, employment shifts and other market dynamics."
Michigan saw the greatest increase in foreclosures from December 2023 to January 2025 with a rise of 200%, per data.
Don’t need to read the article. I’m in commercial Real Estate. Businesses shutting down for COVID stayed shut down and they save a fortune doing so. Amazon, Wayfair. Walmart online caused brick and mortar retail to stock less. Online dating. Very simple.
Now we have an entire generation with 0 interaction and/or social skills. Dog ownership is thru the roof for companionship. Breweries and distilleries are raking it in though.
Bidenomics.
Can the NY AG Sue the building owners? Obviously they over estimated their ability to payback the loan!
Under Obama - they had Pelosi telling us how great unemployment checks were for the “economy”....
Keep your pet supplied and enjoy the bottle liquids that
you may can buy or go the public places and and bring a
jug or two and fill up.
Which is a euphemism for communism.
And, FWIW, I hate euphemisms.
I posted on week one of two weeks to flatten the curve in the Fauci Flu Scamdemic, that this will be the Biggest Land Grab in US History. It appears to be going full steam ahead.
So commercial bankruptcy and “give back the keys” foreclosure is OK, but personal walkaways from gone-bad real estate investments and wanting student loan “forgiveness” are bad?
Seems a bit psychotic.
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