Commercial Real Estate & Business News – September 29, 2022

The overall mortgage delinquency rate declined to 2.79% in August from 3.6% in July, according to a report by Black Knight. The delinquency rate is just 4 basis points above the historic low of 2.75% in May 2022. August saw 20,300 foreclosure starts..»

Although economic growth is projected to resume in 2022’s second half, the combination of high inflation, monetary policy tightening and a slowing housing market will likely tip the economy into a modest recession next year, according to Fannie Mae’s Economic and Strategic Research (ESR) Group…»

The debate between economists about the global economy continues unabated and financial markets are now pricing in further hikes after the 75 basis points raise from the Federal Reserve, the US’s central bank. According to the Bank of England the UK is now in…»

Renters are feeling the pain of higher costs, spending more than one-quarter, 26.4%, of their monthly budgets on average on rents in August, according to Realtor.com’s Monthly Rental Report. This is up from 25.7% of renters’ incomes a year ago…»

Remember Bachman-Turner Overdrive’s 1983 hit “You Ain’t Seen Nothin’ Yet?” You ain’t seen nothin’ yet. B-b-b-baby, you just ain’t seen n-n-nothin’ yet? It’s one of those catchy, unforgettable lyrics you can’t shake. And, it’s a perfect musical representation of…»