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Banking, Real Estate, Stocks

“Shares of NYCB falls 25% after bank discloses ‘internal controls’ issue, CEO change”

“Shares of New York Community Bancorp fell more than 25% on Friday after the regional lender announced a leadership change and disclosed issues with its internal controls… NYCB has been under pressure in recent months due in part to concerns about its exposure to… Continue Reading…

Banking, Economy, Real Estate

“Shaky commercial loans threaten a new regional bank crisis”

“Almost a year after the failure of three midsized U.S. banks sparked an industry crisis, investors and regulators are once again bracing for turmoil among regional lenders, this time due to rising defaults in commercial mortgages. The tipping point may… Continue Reading…

Real Estate

“The Real-Estate Downturn Comes for America’s Premier Office Towers”

“The highest quality office buildings have had much better success navigating the industry’s turmoil. Now, even premier towers are starting to wobble…” https://www.wsj.com/real-estate/commercial/the-real-estate-downturn-comes-for-americas-premier-office-towers-717477a9 The real estate crisis is not in the housing market. (yet?) It’s commercial real estate. The problem in… Continue Reading…

Economy, Real Estate

“Real Estate Billionaire Barrack Says Commercial Mortgages on Brink of Collapse”

“Real estate investor Tom Barrack said the U.S. commercial-mortgage market is on the brink of collapse and predicted a “domino effect” of catastrophic economic consequences if banks and government don’t take prompt action to keep borrowers from defaulting. Barrack, chairman… Continue Reading…