Magazine article Mortgage Banking

CMBS to Slow by Is Percent. (Commercial)

Magazine article Mortgage Banking

CMBS to Slow by Is Percent. (Commercial)

Article excerpt

ACCORDING TO MOODY'S INVESTORS SERVICE, New York, CMBS volume in the United States looks set to fall to around $62 billion in 2002--almost 15 percent below 2001 volumes. Moody's cites the World Trade Center attacks and the weakening U.S. economy for the drop in issuance, but says that supply/demand imbalances in the U.S. property markets have likely reached their lowest levels, pointing to a possible rally later in 2002. Moody's expects that a pick-up in U.S. property markets in 2003 will help to revive the U.S. CMBS market, but cautions that current supply/demand problems may still show up as weakening markets and rising delinquencies for some months to come--that is, the CMBS market still must ride out the recession. Europe is expected to dominate international CMBS with about 70 percent of the total, followed by Asia with 20 percent and Canada with percent, according to Moody's. The remaining 5 percent will be distributed among the rest of the world. …

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