Before I wish you all a happy Thanksgiving and log off for a few days, I wanted to point out that a blog devoted to pancake recipes subsequently hijacked by our beloved Alstry is blowing out TMFJake's blog on the release of a new FREE service available to all of you. Where is the love? [more]
Suggestions that CRE defaults are the next shoe to drop are nothing new. I was way too early to the party and my CAPS score has taken a beating. However, the data is starting to catch up with the speculation. Moody's reports that CMBS delinquency rates surpassed 4% through the end of October, which is twice the amount projected by Fitch last December. Multifamily and hotels, which both topped 6%, had the highest rate of non-performing loans. Delinquency rates have already surpassed 10% in the usual suspects, Michigan and Nevada, and the South is not far behind. Whether or not CRE defaults are the catalyst for the correction so many have been calling for remains to be seen, but it certainly can't help. [more]
If not, REC if you like food.
I had a feeling that the anti-health care bill rallies had lower turnout than FOX and others purported. It is a tragedy that a fake news program has to point out the deception in other fake news programs. The most reputable news sources in the US are now the Onion, Comedy Central, and bartenders. Act accordingly. [more]