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265 sats \ 17 replies \ @Undisciplined 1 Sep \ on: Office CMBS Delinquency Rate Spikes to Record 11.7% econ
It's interesting that this fell off of people's radar after being a really big story a couple of years ago. It sure seems like it's going to unravel soon, especially with state governments backing off of their return to work policies.
Based on what I saw on Freddy and Fanny last time after you triggered me, I do think that that's where eyes should be on right now, more even than CRE: the only way to save offices is when people want to work in their cubicles where when the guy on the other side sneezes you get sick - good luck with that. Whereas I understood there being an intent to privatize FMAE/FMAC?
I don't see much analysis happening on these right now and I have time nor skills to do that research myself. Maybe I can find some more blogs that investigate this.
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After awful searches leading to almost-nothing. Apparently it's all politics, zero economics and the person to watch is Bill Pulte.
The only recent thing was crap like this: https://archive.is/iRq8H
Sens. Elizabeth Warren from Massachusetts, Cory Booker from New Jersey and Chuck Schumer from New York are calling on Trump officials to pause their efforts to sell shares of mortgage giants Fannie Mae and Freddie Mac and study how the move might push up mortgage rates.
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everyone should ignore Warren Booker Schumer
or do the opposite
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That makes you manipulable.
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fair enough
listen to Warren Booker Schumer
Do everything they recommend
is that better?
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Haha. Nope. That will still make one manipulable.
There's something better: process the letter, use your judgement, don't be complacent. If there's useful information in there (in this case, doubt it) then you put it somewhere where it can be useful. If not and it's just trolling, turn the tables on them. Trolling asymmetry works both ways if you can troll back. Return the favor and keep 'em busy and distracted all the same as they attempt to do to you.
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wow, you are so clever... NOT
wow... you seem to understand the world better than me and the entire SN community
tell us what we should do, please enlighten us... we are so stupid compared to your infinite wisdom
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There's no need to be upset! I'm simply offering a third option that takes care of the vulnerability introduced by acting on what politicians say in absolutes. They're there for them, not you.
It's perfectly fine to disagree with me though - I hold no authority nor do I desire to. You do you.
But the CUTS are coming! Just in time to roll over all of this toxic paper
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Ah but that's all HUD-issued toxics! And the "let's remove some MBS from the Fed's balance sheet" seems to be... writeoffs: #1021043
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They still need tenants and there are still a lot of empty offices, with more coming as the feds continue canceling leases.
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Yeah. I wish I had time to spend money on a Trepp account then we could share lulz about all the feds being on the delinquent list.
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turn them into apartments or homeless shelters
or urgent care clinics
sanctuaries and hiding places for the undocumented
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I recently learned that when the feds stop using a building, the highest priority use it has to be considered for next is housing the homeless. Blew my mind
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I think it depends on the state
but let's pretend you are right... let's house the homeless there... I am optimistic that this will solve the housing and homeless crisis
edit:
can we burn the building after housing the homeless? obviously I would never do such a thing unless the homeless were Muslim
actually the highest priority should be illegal wetbacks.... I'm helping ice mask or otherwise
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Maybe I misunderstood what I read, but there’s an official priority list for what to do with federal buildings and homelessness was first.
Of course actually selling the properties is last.
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