Interesting Time Frames – Interesting Thoughts on Commercial Backed Securities
“Think about this: In the next three years, 2010 — that’s when it really starts — to 2013, we’ve got about $300 billion in (commercial mortgage-backed securities), of which $70 to $100 billion is not refinanceable. But to put it in real perspective, on top of this is $1 trillion in bank loans written in the same timeframe, with the same dubious underwriting, coming due in that period.”
Blumberg expects this wave of debt will be a “real blow to the belly of the banking sector”.
via Jeff Greene: The Man Who Shorted Subprime On Commercial Real Estate – Consumer Nation – CNBC.com.
Seems like I’m not the only person that is concerned with these serious financial cracks in our economy.
Yep, a 10+ year party indeed. This is why I say that further weakness and declines are ACTUALLY a good sign. Capitalism is resisting the State’s interference!
