{"id":191812,"date":"2009-06-21T23:03:00","date_gmt":"2009-06-22T04:03:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/06\/21\/50-off-peak\/"},"modified":"2009-06-21T23:03:00","modified_gmt":"2009-06-22T04:03:00","slug":"50-off-peak","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/06\/21\/50-off-peak\/","title":{"rendered":"50% Off Peak"},"content":{"rendered":"<p>This is across the pond, where the <a href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601087&amp;sid=awBf3J13DeF0\">there has been a &pound;1.15 billion default on bonds for 9 office buildings in downtown London<\/a>.<\/p>\n<p>The value of the properties has declined 50% from peak.<\/p>\n<p>We will see a lot more of this in commercial real estate, particularly since most of the loans are relatively short term, typically about 5 years, and the note will come due, and there will be no opportunity to refinance, because the value of the property has fallen.<\/p>\n<p>H\/t <a href=\"http:\/\/www.calculatedriskblog.com\/2009\/06\/office-buildings-50-percent-off-in.html\">Calculated Risk<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>This is across the pond, where the there has been a &pound;1.15 billion default on bonds for 9 office buildings in downtown London. The value of the properties has declined 50% from peak. We will see a lot more of this in commercial real estate, particularly since most of the loans are relatively short term, &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[984,1004,1088],"tags":[],"class_list":["post-191812","post","type-post","status-publish","format-standard","hentry","category-europe","category-finance","category-real-estate"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/191812"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=191812"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/191812\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=191812"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=191812"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=191812"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}