Office CMBS Delinquencies at 13-Year High Amid Remote Work Trends
Allwork
OCTOBER 1, 2024
September saw a significant rise in commercial mortgage-backed securities (CMBS) delinquency rates particularly within the office and retail. Wolf Street reports that office CMBS delinquencies soared to 8.4% — a level not seen since 2010, during the Great Recession. The surge is largely driven by overbuilding and the consistent trend of remote and flexible work arrangements, which is leaving many office spaces across major U.S. markets vacant with financial obligations unmet.
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