Yield-seeking buyers indiscriminately ballooned the price of real-estate-for-let and real estate investment trusts (REITs) in recent years. The real estate deals were highly levered to start with and then REIT holders borrowed against their shares to spend and buy even more. A lot of private equity, pensions and family offices heavily bet in this space. A predictable cash crunch meltdown is now in motion…
Mortgage lenders are preparing for the biggest wave of delinquencies in history. If the plan to buy time works, they may avert an even worse crisis: Mass foreclosures and mortgage market mayhem. Here is a direct video link.
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