Click the title for the full message.
A recent article in National Real Estate Investor described the rate of bank failures at an alarming pace. In fact the research firm Foresight Analytics reports that loan defaults are at an all time 18 year high.
As was recently echoed by Brian Pretti of Mechanics Bank, the worst part is that these loan defaults restrict the banks from doing their business, that is make new loans. Banks are reluctant to accept write offs, even though the default rate is steadily climbing.
The folks at Foresight Analytics predict that defaults will peak in 2011 with a slow return to fundamental lending. Unfortunately, the banks are so overwhelmed with defaulting loans, there are few resources to establish new loans. Read the full story.
If you or someone you know is looking to sell or buy apartments or commercial real estate or just one commercial property OR if there is a consideration to learn more about group investments in commercial real estate please contact me. I can be reached via email at Pete@CommercialMasterMinds.com or just call (925) 719-3569
Continued Success, Pete