A Notable Surge in the Commercial Default Rate

Remember how we talked about commercial debt and default? AKA the “coming crisis

? Well here is the slow beginning:

The default rate for loans on office, retail, hotel and industrial properties surged to 3.8 percent from 1.6 percent a year earlier, the New York-based real estate research firm said yesterday in a report. The default rate for loans on apartment buildings climbed to 4.4 percent from 1.8 percent.