market

Big lenders finally swallow huge losses on distressed commercial real estate

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Big lenders finally swallow huge losses on distressed commercial real estate

Commercial real estate lenders are done pretending. After years of waiting and hoping that the market would improve, they’re selling off debt on struggling US assets, sometimes writing down as much as 85% of the loan’s payoff amount. Lenders including Goldman Sachs Group Inc. and Deutsche Bank AG, as well as smaller companies, are showing … Read more

L.A.’s surging real estate prices have cooled, so why is nobody buying condos?

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L.A.’s surging real estate prices have cooled, so why is nobody buying condos?

As the relentless rise in Los Angeles housing costs seems to have paused, condominium sales have slowed to a trickle this year. The number of condo units sold in the first two months slid to a more than 20-year low, according to figures from property information provider Attom. The median price of a condo fell … Read more