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Big Boy Credit-Commercial office mortgages. Yikes


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Office landlords squeezed by falling occupancy rates, refinancing difficulties. Here's why

Office landlords squeezed by falling occupancy rates, refinancing difficulties. Here's why (msn.com)

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Almost $1.4 trillion of commercial mortgages are set to mature over the next two years, according to Moody's. Among office properties, roughly $1.2 billion in loans were scheduled to mature between January and April, but 61%, or $701.3 million, went unpaid, the firm said. Another $7.8 billion in loans are set to be paid off by the end of the year.

 

Commercial mortgages are typically multi-year witha baloon payment. If correct, this is really scary.

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Office vacancy rates have risen, and more and more people work remotely, but I start to wonder where in the heck are all these people driving to. Los Angeles area freeways are as crowded as ever. Even the streets downtown are full of cars. If they're not going to work, where is everybody going?  

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