The Real Deal New York

A recent report from research firm Real Estate Econometrics shows that commercial mortgage defaults have a long way to go before bottoming out. The number of mortgage defaults could peak in the next two years, the report says, and that high level of commercial distress could sustain through 2013. “That’s a situation that will grow more serious over the course of the next year or more,” Econometrics President Sam Chandan said. His group forecasts as many as 5.2 percent of commercial and 5.5 percent of multi-family mortgages will default in fourth-quarter 2010.