Luxury Homeowners Turn to ‘Short Sales’ as Loan Defaults Rise (Bloomberg)

Dec. 17 (Bloomberg) -- Homeowners with mortgages of more than $1 million are defaulting at almost twice the U.S. rate and some are turning to so-called short sales to unload properties as stock-market losses and pay cuts squeeze wealthy borrowers.

NorthWest Real Estate

U.S. Homeowners Lost $5.9 Trillion Since 2006 Peak (Update1) (Bloomberg)

Almost half a trillion dollars was wiped out this year through November as housing headed for a third straight annual decline. New foreclosures and higher mortgage rates in 2010 may hinder a rebound, the property data service said today in a statement.

NorthWest Real Estate

Commercial Mortgage Defaults at U.S. Banks Reach 3.4% (Update1) (Bloomberg)

Dec. 1 (Bloomberg) -- The commercial mortgage default rate on loans held by U.S. banks more than doubled to 3.4 percent in the third quarter as vacancies rose and rents declined, Real Estate Econometrics LLC said.

NorthWest Real Estate

Commercial Mortgage Defaults in U.S. Bank Portfolios Reach 3.4% (Bloomberg)

Dec. 1 (Bloomberg) -- The commercial mortgage default rate on loans held by U.S. banks more than doubled to 3.4 percent in the third quarter as vacancies rose and rents declined, Real Estate Econometrics LLC said.

NorthWest Real Estate