In August, 11.42% of mortgages packaged into commercial mortgage-backed securities were in special servicing, the highest rate since February 2013.
In August, 11.42% of mortgages packaged into commercial mortgage-backed securities were in special servicing, the highest rate since February 2013.
The dollar amount spent by U.S. households rose by 6.1% in the 12 months through August, up from annual growth of 4.3% at the end of last year.
The top 0.1% now control about $28 trillion, or about 15% of the nation’s total wealth, which amounts to nearly $186 trillion. The average wealth for a household in this group is more than $200 million.
Over the last year, housing prices have grown significantly faster in metro areas like Boston (4.4%), New York City (4.4%), Minneapolis (3.7%) and Los Angeles (3.4%) than Dallas (1.9%), Atlanta (1.4%), Houston (0.3%) and Tampa (-0.6%).
Manhattan office leasing activity reached 10.5 million square feet in Q2 2026, matching Q1’s pace and keeping the market on track for its strongest year since 2019. Availability fell to 14.1%, its lowest level since 2020.
The delinquency rate for multifamily loans in commercial mortgage-backed securities jumped from 1% in October 2023 to 7.1% this year, the biggest increase of any major property type.
Among thousands of public companies tracked, about 19% of dividend-payout announcements during the quarter have been for reductions, rather than for increases or no change. That would be the highest proportion since the second quarter of 2020 when the Covid-19 pandemic slammed into the global economy.
The distress rate in commercial real-estate collateralized loan obligations hit 28% in August, a jump from 19% in July. Most of the recent rise in distress in the CRE CLO market is driven by loans that were issued in 2021, when property values were at all-time highs and borrowing costs were at all-time lows.
U.S. apartment landlords face more than $1.8 trillion in debt coming due over the next decade, with about $757 billion maturing from now to 2028. Landlords must refinance at borrowing rates that are roughly double the levels of five years ago, when many of the original loans were made.