News Formal

BofA clients yank $451 million from real-estate stocks on property fears

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 41 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 51%

Belgique Nouvelles Nouvelles

Bank of America clients have yanked $451 million from real-estate stocks as commercial property becomes investors' newest worry

Bank of America's clients pulled $451 million from real-estate stocks last week as troubles in the commercial property sector heat up.

"Outflows from real estate were the largest since July 2021 amid concerns around commercial real estate," bank's strategists led by Jill Carey Hall wrote in a Tuesday note. Worries about the health of the commercial property sector are building as it faces a string of headwinds, from higher interest rates and work-from-home trends to tighter credit conditions.

High borrowing costs and higher standards for obtaining loans — part of the fallout from the turmoil that hit banks in March — could raise hurdles for big property owners as they seek to refinance a pile of loans. Nearly $450 billion in commercial real-estate debt is due to mature in 2023, per data cited from Trepp by JPMorgan. That means a final payment on those loans is scheduled to be paid before the end of the year.

 

Merci pour votre commentaire. Votre commentaire sera publié après examen.
Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

 /  🏆 729. in BE

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

China luxury market is starting to make a comeback: BofAChina is home to one of the world's biggest luxury markets, and it's starting to make a comeback after the country's 3-year COVID lockdowns
La source: BusinessInsider - 🏆 729. / 51 Lire la suite »

The Fed has so far saved the stock market from crashing after SVB: YardeniThe Fed has so far saved the stock market from crashing after SVB's implosion by injecting billions to backstop deposits, market veteran Ed Yardeni says And tqxpayers pay the bill for rich gambling billions. Yet wage increases benefits decent health insurance off the table
La source: BusinessInsider - 🏆 729. / 51 Lire la suite »

Tupperware stock plunges after warning it could go out of businessThe container maker said there’s “substantial doubt about the company’s ability to continue as a going concern.”
La source: ladailynews - 🏆 332. / 59 Lire la suite »

Stock market news today: S&P 500 falls after jobs reportUS stocks fall as investors weigh how Friday's jobs data will impact the Fed's next rate decision stocks didn't 'fall', they were UP!
La source: BusinessInsider - 🏆 729. / 51 Lire la suite »