The Real Deal Miami

Commercial delinquency rates spike

April 17, 2009 04:19PM

The 90-day delinquency rates for commercial properties have increased in a number of states, particularly on the east coast. Florida ranks third on the list of states with the highest commercial delinquency rates, with a statewide rate of 2.48 percent. Only Rhode Island and Montana have higher rates. The rates have been growing exponentially, Seeking Alpha writer Andrew Horowitz notes. Foreclosures went up 20 percent between March and April and the number of properties late on payments by 30 days has increased by 10 percent.