Well my job is impossible to do right now and this is why:
“Only $12.1 billion dollars of CMBS (Commercial Mortgage Backed Securities) were issued in the United States this year (2008), making it the most listless year since the market took off in the mid 1990’s. That volume comprised only NINE deals and represents a 95% reduction from 2007 stated the CMD.”
- CBRE Capital Market News – 01/06/2009
Most of you probably don’t really care but I just find this stuff fascinating. In 2006 I closed $500 Million in volume. It is amazing how fast and hard the market shut down. I also thought I would share because most of the news is related to residential because commercial really doesn’t have a big impact on everyone but these numbers are way worse then what is going on in the residential market. Also just FYI defaults on commercial mortgages are less then 1% but you still can’t find money for them. I hate the market right now.
7 years ago
2 comments:
You need to stop watching the news... and go to people.com and read about celebrities or something! You are depressing me :)
Unfortunately, the commercial market is affecting us. Scott was laid off yesterday; he is strictly electrical for commercial buildings. **Sigh** Just when I was getting excited for a New Year and being done with big Christmas spending...
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