Here we go again!

The office-debt meltdown keeps getting worse. The motto in 2024 was “Survive till 2025” via extend-and-pretend. But now what?

By Wolf Richter for WOLF STREET.

The delinquency rate of office mortgages that have been securitized into commercial mortgage-backed securities (CMBS) spiked to 11.0% in December, a new all-time high, surpassing even the debt-meltdown during the Financial Crisis, when office CMBS delinquency rates peaked at 10.7%, according to data by Trepp today, which tracks and analyzes CMBS.