Every one of you likely remembers where you were at the end of 2007 when the cracks in the real estate financial system started spreading to the larger economy…
… The CrediFi report warns that a downturn for the commercial property industry might be coming soon as it has seen “a 4% overall slowdown in CRE from 2017-2018.” It warns that this extra, previously unreported exposure might put the economy at risk of repeating what happened in 2008. “Banks are not diversifying their risks off of their books as they once were,” the report claims, which is exactly the kind of thing you don’t want to hear if we are going into the downturn that everyone seems to think is around the corner.