
The Father Of CMBS Says We’re In ‘Uncharted Territory’ When It Comes To Valuing Real Estate
Odd Lots
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Navigating the Shifts in Real Estate Financing Dynamics
This chapter examines the impact of traditional lenders retreating from the real estate market during the early 1990s recession, which contributed to an unsustainable bubble in property values. It highlights how these events laid the groundwork for the emergence of the commercial mortgage-backed securities (CMBS) market, emphasizing the cyclical challenges of regulated lending.
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