Commercial Real Estate Trouble in 2009
U.S. Bancorp (USB) Q408 conference call the bank reiterated that it is the highest rated large U.S. bank: We now are alone as the most highly rated bank of our large bank peer group with a AA rating and a stable outlook with S&P with an AA2 and stable outlook with Moody’s.
From this same conference call U.S. Bancorp said about commercial real estate:
Nonperforming assets increased by $489 million or 32.8%… The majority of the increase in the core bank portfolio was related to residential construction, residential mortgages and related industries. However, the economic slow down also had an impact on some of our commercial and retail customers.
I think in 2009 we will have a fairly steady amount of losses in commercial real estate attributed to just more traditional commercial real estate across our national footprint. San Diego real estate agent
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The perfect storm of a complete financial collapse is a couple months away. Be ready for a wild ride!
San Diego Lasik Surgeon
I think that in the long run, everything will probably be okay. The government will save us.
Adult Acne Specialist
Somebody needs to go to jail. Regular folks would be in jail right now.
San Diego Attractions
For me, our collapse, and our total inability to understand how things work, all seems to be just a little too perfect to be a coincedence. But that’s just me.
San Diego Bail Bondsmen