Commercial default

[Zoe]

Stay on p's and q's. Pay day is coming. No telling how many commercial properties are in default.

 

[glenn walker]

Many are in forbearance right now or in Federal Bankruptcy, commercial lenders are working a different game this time, they have no ability to manage empty or vacant commercial buildings, and insurers after the 6 months of previous riots and looting are pulling out of the markets. Therefore we are not going to see a lot of recorded defaults, lots of behind the scene deals being made where owners or corporations are, selling per-arranged prices and liquidated to hedge fund types where its difficult to know who paid what. The goal of the fed's will be to create an-image that there is no serious cracks in the dam. On residential we alreday have millions in forbearance and the game will be a little different than in 2008 -2015 meltdown. There are not going to be a lot of opportunity's fo small investors, in the major metro areas, the Big Boys are already working with Fannie-Freddie and the Feds on how to unwind the nightmare without the public ever even knowing there is a problem.

 

[Fernando]

As you know, I have few vacant units and few restaurants closed. I have some issues of homeless people sleeping near doorways of these premises.
It's not good to have empty storefronts. Feeling pressure to rent even at lower rent.