Thursday, August 2, 2007

California commerical RE defaults are incredibly low

CMBS defaults might be on the rise from historic lows, but commercial real estate loan foreclosures, at least in California, are at a five-year low because of high demand. We're talking only .03%? What does that translate to -- a strip center in Visalia and a self-storage in El Centro? That low number boggles my mind. But it certainly is not bad news for property owners in California.