Commercial Real Estate Foreclosures Up 117% From Last Year

[2012Bearcat]

Commercial real estate foreclosures jumped 117% in March as trouble looms

A new report from ATTOM shows there were 625 U.S. commercial real estate foreclosures in March, a stunning 117% increase from the same time last year.

www.foxbusiness.com

Interesting comment by Jerome Powell
Fed Chair Jerome Powell said in March that commercial real estate woes will likely lead to some bank failures, but do not pose a larger threat to the financial system.

"We have identified the banks that have high commercial real estate concentrations, particularly office and retail and other ones that have been affected a lot," Powell said while testifying on Capitol Hill. "This is a problem that we’ll be working on for years more, I’m sure. There will be bank failures, but not the big banks."

Look for this to lead to to the collapse of smaller regional banks leading to big banks becoming bigger, more powerful and more controlling of people's money. Government and big banks would love nothing better than to implement a cashless society, making every transaction digital. Is this the beginning?

 

[Tulsaaggieson]

Too big to be allowed to fail.

We are not in capitalist state anymore. We are in a totalitarian socialist state. If the Democrats start being nationalistic, you will be officially in a fascist state. If they start to seize property from the bourgeoisie then welcome to a communist state. In other words you are at the bottom of the slippery slope and the choices are which form of socialism is the President going to go after.

Your choices will taken from you if you get 4 more years of this.

 

[osu_orangestreak]

Wonder what percentage of that involves empty office buildings because of the pandemic? My wifes company went to work at home and it is now permanent. Several friends at other places uev down the same.

Malls and retail also have to be playing into that. They are mostly dead and empty.

 

[OrangeTuono]

Too big to be allowed to fail.

We are not in capitalist state anymore. We are in a totalitarian socialist state. If the Democrats start being nationalistic, you will be officially in a fascist state. If they start to seize property from the bourgeoisie then welcome to a communist state. In other words you are at the bottom of the slippery slope and the choices are which form of socialism is the President going to go after.

Your choices will taken from you if you get 4 more years of this.

Bingo... And key to it all is Authoritarianism in its many forms. At least in the US we have enough Fascism vaccine pills in Citizens' hands to undo things when Swamp Creatures start kicking in doors.

Understanding the Global Rise of Authoritarianism

It's not technically Communism or Socialism or Fascism that Western Civilization faces degradation from, but more generally good ole Authoritarianism in various flavors. The type of slow creeping bureaucratic expansion throttling freedom of the individual Citizen. On why nationalism and...

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