Lenders' Insatiable Appetite for Commercial Real Estate
Condo Market Bottoming With Morgan Stanley Reducing Loan Losses | by Hui-yong Yu
Morgan Stanley is finding the bottom in the condominium market, writes Bloomberg's Hui-yong Yu. The combination of falling prices and the slow absorption of excess inventory has allowed conditions to firm in a number of leading markets, including Seattle. The analysis cites data published in the quarterly filings of Fannie Mae and Freddie Mac and compiled by Chandan Economics which show that the serious delinquency rate on condo and co-op mortgages has been declining steadily since reaching a peak in the first quarter of 2010.
Read the full story at Bloomberg.