What’s the biggest reason the volume of distressed property sales has fallen short of expectations?
Regulators haven’t forced banks to take action against distressed owners
Investors are waiting for prices to fall further before they buy
The largely frozen credit markets have deterred prospective buyers
Struggling lenders prefer to modify or extend loans, rather than foreclose
The collapse of the CMBS market has complicated asset sales
A strong public-private plan to sell off toxic assets is lacking
All of the above. It’s the perfect storm.
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