Buckle Up!
According to the US CPI data the inflation rate from 2020 to 2024 is 20.7%
20.7%.
If you shop for groceries (and just about anything else) you KNOW that this is true.
What you bought for $1 in 2020 now costs $1.21 – and that is from the U.S Gov’t.
Mortgage Bankers Association data shows that $929 billion of commercial real estate debt will need to be repaid or refinanced in 2024.
“We are at the beginning of the impact of this wall of loans,” said Gosin in the report. Apr 1, 2024
In 2025, an additional $570 billion in loans are scheduled to reach maturity, followed by $460 billion in 2026.
In total, approximately $2.0 trillion of commercial real estate mortgages are scheduled to reach maturity from 2024 through the end of 2026.
In NYC, empty store fronts doubled from 6% in 2019 to 12% last year.
New York’s office vacancy rate has surged more than 70 percent since 2019.
There is some 96 million square feet of office real estate available for lease in the city.
Delinquency rates for office loans across the United States are at a pandemic-era peak of nearly 5 percent.
Tick, tock, tick, tock….there’s a balloon about to pop.
The Liberator