According to the article below (or click on title above for direct link)
Commercial Mortgage Backed Security default rates were only 1.62% in the 4th quarter of 2008 and then jumped to 2.25% in the 1st quarter of 2009. I know we midwesterners are slow, but if my math is correct that represents a 38.9% increase from one quarter to the next. Holy Shit that's huge! Scary thing is there is no way that any of those numbers are accurate, I would bet the whole damn ranch that real numbers are in excess of 10% of these CMBS's being in default. You watch, it's coming. Be smart and stay out of the way, don't get sucked down with the sinking ship!
http://www.costar.com/News/Article.aspx?id=563521C73456CCABB61C92BFA4DB2DDC&ref=1&src=rss
