Where Distressed CRE Loans are Piling Up
Late loan payments in commercial real estate are on the rise. Old, obsolete office buildings compounded by a decreased need for office due to the Work-from-home (WFH) and hybrid work phenomenon are the major contributing factors to these delinquencies. Overall, the rate of delinquent loans hit 6.8% in August 2023, as compared to 4.5% in June 2022. …