Commercial Lending Plummets in 1st Quarter

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Real Estate Agent with The Adam and Eric Team 01499486

Apartment and commercial lending plummeted 70% in first quarter compared to figures from a year ago.   It is also down 26% from the fourth quarter.  The Mortgage Bankers MABAssociation blames the recession on the drop of loans. 

Here is how different properties compared to the first quarter of 2008:

88 percent decrease in loans for hotel properties

80 percent decrease in loans for health care properties

76 percent decrease in loans for retail properties

66 percent decrease in loans for office properties

61 percent decrease in apartment property loans

50 decrease in industrial property loans.

 

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Jim Crawford
RE/MAX Paramount Properties - Atlanta, GA
Jim Crawford Atlanta Realtor - Atlanta Real Estate

It is my understanding that a commercial reckoning lies just ahead.  We can forget about the sub-prime mess for a while as commercial real estate takes center stage.

May 19, 2009 06:41 AM #1
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Mike McCann - Nebraska Land Broker
Mike McCann - Broker, Based in Kearney & Serving Rural Nebraska - Kearney, NE
Nebraska Farm Land For Sale 308-627-3700

Jim,

I have been talking with a number of lenders this past week and they are absolutely scared about upcoming audits and are calling a lot of notes in that a year ago they were simply renewing.

I hope it is not a day of reckoning as you mention but I sure won't argue that you are wrong... but I am praying you are!!

Mike McCann Broker

Jun 16, 2009 07:35 PM #2
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Adam Brett

The Adam and Eric Team, Setting the New Standard
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