Lol, what the fuck happened to self storage in january 2024 specifically? why did that rate that was pretty much consistently flat from 0-1.5% suddenly skyrocket to 14.4%?
LittleHottie8675309 on
well, cred means credible and iq usually means smart, so this is credible and smart. Burry gonna print mint
lillilllillil on
This has been expected and is calculated out to only increase. Not a suprise
wasifaiboply on
No shit. Why the fuck would anyone keep paying a loan on worthless commercial property? It’s the banks – and all of us by extension – who are going to pay the price of the CRE meltdown. And that’s just one turd on a pile of turds we’re going to have to eat in the coming twelve months.
Hide yo kids, hide yo wife, markets about to be rapin’ errybody out here.
brucekeller on
It’s okay, with all that QE money out there and companies with an incredible amount of hard assets on balance sheets they’ll just be able to buy up the distressed / foreclosed homes for cheap with ‘cash’ and squeeze rent out of people and have the properties paid off in 10 years. Heck, a bunch of the corporate homes since the last round of ZIRP/QE are already 1/2 the way paid off by now, then they’ll basically be money printing machines. Serfs up my dudes.
Mystaes on
Are mortgage delinquencies up or just CRE?
bogueybear201 on
The real question is: How can we lose money on this?
AsbestosGary on
All I see is commercial RE and multi family (which also tends to be corporate owned and commercial). Corporate owned loans have been under water for a while and that risk has been known for a while.
Viktri1 on
Have you seen the stock market after the gfc? Bullish
gnocchicotti on
Good thing 1/3 of mortgaged homes are just investment rentals utilizing residency fraud. Keeps them out of this bucket with the pesky refinance at a higher rate problems.
StupidUserNameTooLon on
Interesting that retail is worse than office, and has been for a while.
TrumpsCheetoJizz on
GFC – Great fucking christ?
Icy_Writing_6404 on
Just pass a law to allow converting CRE into housing. So easy.
ObiWanCanownme on
What’s the big problem here? Just repackage the delinquent loans in with a leveraged derivative of some high quality loans, then throw in some CDSs as a hedge, and brand the whole thing a AAA+ asset. There’s literally no way it could go belly up.
PlutosGrasp on
This is good info. Thanks.
surfaceVisuals on
i’m gonna refinance after powell drops rates next week and buy a PS5 bro
Time_Swimming2295 on
Are there included both home loans and commercial loans ?
Since 2007. Banks are better capitalized…. So should it be good hmmm ?
Born_Wave3443 on
Idk about CRED iQ, but my IQ isn’t high enough to understand this. ELI5?
doejohnblowjoe on
Only a matter of time now.
sufferpuppet on
Does self storage shit the bed every January or was that a one off?
noncommonGoodsense on
Mother bubble incoming?
Plisky6 on
Lots of distressed multifamily assets too. The construction loans 2-3 years ago were cheap. Now at conversion the rates have skyrocketed and the underwriting didn’t take that into consideration.
EchoChamberReddit13 on
Good thing California started a program to help non residents with 20% down payment for home purchases. They surely won’t default and dip out of the US without consequences when the market implodes.
TheFatStout on
…explain it to me like I’m five. 
relevant__comment on
I like how retail aligned perfectly with the holiday shopping season.
bmiddy on
“and or specially serviced…”
FFS people. Chill out.
theBacillus on
What happpend to self storage in January? This data does not seem to be correct
NotaJelly on
time to buy calls
_____c4 on
Need a comparison of this graph vs GFC years, cmon we are regarded here. Needs to be more clearer
monkman99 on
Is it really that hard to type out whatever the fuk GFC stands for?
QuantumCapitalTheory on
Geez. 🙄How many of these mortgages are bundled into the CDO, “bespoke investment opportunities” rebrand after the GFC?
Flurk21 on
Got any data comparing with more than a year ago?
free_username_ on
Except for office. DQ is improving though
MaddRamm on
This is commercial and has nothing to do with the residential sector that brought on the GFC. There’s no housing bubble. The only reason commercial spiked back then was because everyone lost their jobs and houses. This time, it’s just empty offices and won’t be affecting anyone livelihoods. They will just keep on working from home. The only threat this poses is to the fragile banks that are too concentrated with commercial RE.
Melodic_Fee5400 on
Everything is fine. Buy NVIDIA calls you fkn regard
Snlxdd on
Time to play my favorite game: Cut the left side off a chart until it supports my viewpoint!
37 Comments
Lol, what the fuck happened to self storage in january 2024 specifically? why did that rate that was pretty much consistently flat from 0-1.5% suddenly skyrocket to 14.4%?
well, cred means credible and iq usually means smart, so this is credible and smart. Burry gonna print mint
This has been expected and is calculated out to only increase. Not a suprise
No shit. Why the fuck would anyone keep paying a loan on worthless commercial property? It’s the banks – and all of us by extension – who are going to pay the price of the CRE meltdown. And that’s just one turd on a pile of turds we’re going to have to eat in the coming twelve months.
Hide yo kids, hide yo wife, markets about to be rapin’ errybody out here.
It’s okay, with all that QE money out there and companies with an incredible amount of hard assets on balance sheets they’ll just be able to buy up the distressed / foreclosed homes for cheap with ‘cash’ and squeeze rent out of people and have the properties paid off in 10 years. Heck, a bunch of the corporate homes since the last round of ZIRP/QE are already 1/2 the way paid off by now, then they’ll basically be money printing machines. Serfs up my dudes.
Are mortgage delinquencies up or just CRE?
The real question is: How can we lose money on this?
All I see is commercial RE and multi family (which also tends to be corporate owned and commercial). Corporate owned loans have been under water for a while and that risk has been known for a while.
Have you seen the stock market after the gfc? Bullish
Good thing 1/3 of mortgaged homes are just investment rentals utilizing residency fraud. Keeps them out of this bucket with the pesky refinance at a higher rate problems.
Interesting that retail is worse than office, and has been for a while.
GFC – Great fucking christ?
Just pass a law to allow converting CRE into housing. So easy.
What’s the big problem here? Just repackage the delinquent loans in with a leveraged derivative of some high quality loans, then throw in some CDSs as a hedge, and brand the whole thing a AAA+ asset. There’s literally no way it could go belly up.
This is good info. Thanks.
i’m gonna refinance after powell drops rates next week and buy a PS5 bro
Are there included both home loans and commercial loans ?
Since 2007. Banks are better capitalized…. So should it be good hmmm ?
Idk about CRED iQ, but my IQ isn’t high enough to understand this. ELI5?
Only a matter of time now.
Does self storage shit the bed every January or was that a one off?
Mother bubble incoming?
Lots of distressed multifamily assets too. The construction loans 2-3 years ago were cheap. Now at conversion the rates have skyrocketed and the underwriting didn’t take that into consideration.
Good thing California started a program to help non residents with 20% down payment for home purchases. They surely won’t default and dip out of the US without consequences when the market implodes.
…explain it to me like I’m five. 
I like how retail aligned perfectly with the holiday shopping season.
“and or specially serviced…”
FFS people. Chill out.
What happpend to self storage in January? This data does not seem to be correct
time to buy calls
Need a comparison of this graph vs GFC years, cmon we are regarded here. Needs to be more clearer
Is it really that hard to type out whatever the fuk GFC stands for?
Geez. 🙄How many of these mortgages are bundled into the CDO, “bespoke investment opportunities” rebrand after the GFC?
Got any data comparing with more than a year ago?
Except for office. DQ is improving though
This is commercial and has nothing to do with the residential sector that brought on the GFC. There’s no housing bubble. The only reason commercial spiked back then was because everyone lost their jobs and houses. This time, it’s just empty offices and won’t be affecting anyone livelihoods. They will just keep on working from home. The only threat this poses is to the fragile banks that are too concentrated with commercial RE.
Everything is fine. Buy NVIDIA calls you fkn regard
Time to play my favorite game: Cut the left side off a chart until it supports my viewpoint!
Someone’s 4288 units just went BOOM!