May 8, 2009
The WSJ has an article discussing some residential projects Swig Co. has going in NYC. The article isn’t that interesting, except that it contains some data on construction loan delinquency rates.
According to the data, some 32% of construction loans on condo projects are more than 30-days past due. On non-residential commercial construction loans, delinquency rates are some 8.9%.
- Nearly 20% of Construction Debt is Delinquent
- Commercial Real Estate Delinquency Rate Doubles
- Nervously Watching Delinquencies
- Commercial/Multi-Family Delinquency Rates Continue Hike Up
- Delinquency Rates on Construction Loans in Double Digits