General Electric Expects to Lose 7 Billion in Commercial Real Estate
GE is a bellweather for the commercial real estate market as their vast holdings are fairly well diversified. Unfortunately the picture the company paints is dim.
General Electric expects to lose 13 percent more of it’s portfolio in 2010. That is on top of a 34 percent loss since it’s highs of 2007.
So if you are looking at commercial property, keep these numbers in mind. The expectation of profits from the sector are not likely until 2011 if not later.
Executives from GE Capital, a unit of General Electric Co. said on Tuesday that the company expects to have about $7 billion in unrealized losses in the battered commercial real estate sector. The executives, speaking at an annual investor day for the unit, said that the decline in real estate values has also driven down the value of its collateral for commercial real estate loans, lifting impairments on loans above previous expectations for 2009. via MarketWatch
I like your analogy in this article. The real estate economy really is like a patient who you cannot ...
Real Estate is hyper-local. Every market is different. Phoenix has already hit bottom and is starting to recover. We have ...
Great to hear that the big boys
are predicting recovery sooner than
most think.
Thanks for the value! 
I agree--good analogy. You have to crawl before you can walk. Right now, at least in Austin, many people would ...
I live in the Philippines and I am glad we are not on the lists... 
I have a few Litograghs of Presidents homes , made by Richard V. Sebring. yr. 1990 Do they have any ...
I see the question I have, but no response. I do not have a for sale sign up ...
I'll add mine to the list too. This is happening in Kansas City, Missouri as well now.
We already knew ...
Comment by Portland Real Estate on 9 December 2009:
We all knew that the commercial crash was going to follow behind the residential crash. It is coming, and hopefully the residential market will have recovered enough to keep us moving forward with economic progress.
-Tyler