News wire article from our research archive:

Cracks appear in US office market.

Byline: Anthony Hughes and Paddy Manning

Jul 02, 2008 (The Australian Financial Review - ABIX via COMTEX) -- The US commercial property market is uncertain in mid-2008. The commercial mortgage-backed securities (CMBS) market remains closed. Yield spreads on outstanding issues widened in June, due to further concerns about losses on loans. Goldman Sachs JBWere has warned that exposure to commercial property will cause more write-downs by banks. Analysts said that the sector is not oversupplied, defaults on commercial mortgages are fairly low and there is strong demand from ...

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