Bankers invested in housing to the nation’s woe. Major retailers are investing in massive retail expansion. And yet……
* The value of all commercial real estate in the U.S. was approximately $6 trillion in 2007 (book value, not market value).
* There is approximately $3.5 trillion of debt financing these commercial properties.
* Approximately $1.4 trillion of this debt comes due between now and 2014.
* The delinquency rate for all commercial backed securities exceeded 9% for the 1st time in history last month and has more than doubled in the last 12 months.
* Non-performing loans are close to 16%, up from below 1% in 2007.
