{"id":707063,"date":"2010-04-01T14:32:00","date_gmt":"2010-04-01T18:32:00","guid":{"rendered":"http:\/\/www.businessinsider.com\/cre-crush-set-to-increase-bank-failures-by-30-this-year-2010-4"},"modified":"2010-04-01T14:32:00","modified_gmt":"2010-04-01T18:32:00","slug":"cre-crush-set-to-increase-bank-failures-by-30-this-year","status":"publish","type":"post","link":"https:\/\/mereja.com\/index\/707063","title":{"rendered":"CRE Crush Set To Increase Bank Failures By 30% This Year"},"content":{"rendered":"<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"float_right\" src=\"https:\/\/i0.wp.com\/static.businessinsider.com\/image\/4bb4e1747f8b9ae538df0000\/9-west.jpg?w=780\" border=\"0\" alt=\"9 West\" \/><\/p>\n<p>Commercial Mortgage Backed Securities (CMBS) are in such bad shape that they might bring down 30% more banks in 2010 than 2009.<\/p>\n<p>Data from the analytics firm Trepp shows that CMBS delinquencies shot up to <a href=\"http:\/\/www.housingwire.com\/2010\/04\/01\/spiking-cmbs-delinquencies-may-collapse-mid-sized-banks-in-2010-trepp\/\">7.61% in March<\/a> from 6.72% in February. Delinquencies of this size could bring many mid-size and regional banks down due to exposure to the market.<\/p>\n<p>This isn&#8217;t just impacting commercial real estate in markets like Southern California or Detroit though. In New York, esteemed Plaza District office building <a href=\"http:\/\/blogs.wsj.com\/developments\/2010\/04\/01\/a-legendary-office-tower-half-empty\/\">9 West is half empty<\/a>.<\/p>\n<p>The <a href=\"http:\/\/en.wikipedia.org\/wiki\/Midtown_Manhattan\">Plaza District<\/a> in New York, which stretches from Third to Seventh Avenue between 42nd and 59th Streets, had its rate of vacancy double in 2009 to <a href=\"http:\/\/blogs.wsj.com\/developments\/2010\/04\/01\/a-legendary-office-tower-half-empty\/\">14.7%<\/a>.<\/p>\n<p><a href=\"http:\/\/www.businessinsider.com\/cre-crush-set-to-increase-bank-failures-by-30-this-year-2010-4#comments\">Join the conversation about this story &#187;<\/a><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/feeds.feedburner.com\/~r\/TheMoneyGame\/~4\/QFdWkOACnqk\" height=\"1\" width=\"1\"\/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Commercial Mortgage Backed Securities (CMBS) are in such bad shape that they might bring down 30% more banks in 2010 than 2009. Data from the analytics firm Trepp shows that CMBS delinquencies shot up to 7.61% in March from 6.72% in February. Delinquencies of this size could bring many mid-size and regional banks down due [&hellip;]<\/p>\n","protected":false},"author":1217,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4821],"tags":[],"class_list":["post-707063","post","type-post","status-publish","format-standard","hentry","category-news"],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9NivD-2XWf","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/posts\/707063","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/users\/1217"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/comments?post=707063"}],"version-history":[{"count":0,"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/posts\/707063\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/media?parent=707063"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/categories?post=707063"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/tags?post=707063"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}