Broker Roundtable: Northeast States

The "credit crunch" is quite real and still has a long way to play out. While the residential loans have been clobbered, the commercial loans appear to be holding up well. However, a recession could negatively impact rents and occupancies. Given the loose underwriting of many recent commercial loans there is certainly a possibility for the infection to spread. Luckily, self storage has the lowest default rate of any real estate class and most of the facilities we see are moderately leveraged.

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