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Some of the largest Real Estate Investment Trusts are getting ready to abandon the housing market and shift into commercial real estate. New research shows Vornado Realty Trust is being squeezed with their maturity debt obligations for some of their largest properties about to be reset. These real estate loans are about to mature, and with big money funds having little to no interest in mortgage backed securities right now, their future is looking bleak. Goldman notes how it is likely Vornado could see up to $2.6 billion in loan defaults on some of their largest and most prized properties.
We also dive into Blackstone’s BREIT and the problems they are facing, and their new plan to divest from residential single family homes and shift into commercial real estate.
This video also dives into Zillow’s newest housing market data, that shows home prices have begun to fall along the East Coast. Even with the spring selling season upon us, home prices are still falling in many markets.
Big Money Funds Prepare to EXIT Housing Market and Move to Commercial as Zillow Data Arrives
This video is not financial advice.