London's office market is experiencing significant losses, with lenders facing potential losses of $160 billion on commercial real estate loans. Discount deals in Canary Wharf and the City reflect the market's true state, revealing a correction roiling the market. This collapse is the largest since 2008, with a 10% to 20% default rate on commercial real estate loans.
Banks are sitting on as much as $160 billion in losses on loans to the commercial real estate market as they brace for a wave of defaults from landlords in the year ahead, according to a report. There is currently a 10% to 20% default rate on commercial real estate loans,…
Banks reportedly face $160B in losses on commercial real estate loans https://t.co/H19FTZMFUa? via @nypost @shannonthaler
US Banks Could See $160B In Potential Losses From Commercial Real Estate Sector Collapse, Largest Since 2008: Report https://t.co/mk0p03uY3l
Banks reportedly face $160B in losses on commercial real estate loans https://t.co/5ocG5EZur0 https://t.co/FsermEaRBS
NEW: London’s office market has been battered in recent years Some discount deals in Canary Wharf and the City reveal the true state of things ⬇️ https://t.co/f2Lul1df4R
A series of sales in which lenders are facing painful losses is laying bare the extent of the correction roiling parts of London’s office market https://t.co/fne1MX0JOY