CMBS Delinquency Rate Tops 4% in July 2023; Office and Lodging Delinquencies Increase AGAIN. These are WORSE than CDOs and CLOs. Is the global housing market in trouble again?

cross-posted from: https://lemmy.dbzer0.com/post/3047136

Overall Property Type Analysis (CMBS 1.0 and 2.0+)

• The industrial delinquency rate fell 11 basis points to 0.31%.
• The lodging delinquency rate jumped 50 basis points to 5.85%.
• The multifamily delinquency rate rose 24 basis points to 1.83%.
• The office delinquency rate climbed 46 basis points to 4.96%.
• The retail delinquency rate moved up 38 basis points to 6.86%.

What Is ("was") a CDO?

https://www.investopedia.com/ask/answers/032315/were-collateralized-debt-obligations-cdo-responsible-2008-financial-crisis.asp

CDO vs. CMBS (vs. CLO)

With the housing market being proposed up again by stupid bets (CMBS are just as likely to explode as CDOs were in 08), will this come crashing down?

What is "Shadow Banking" and who engages in these types of bets?

Examples of shadow banks or financial intermediaries not subject to regulation include hedge funds, private equity funds, mortgage lenders, and even large investment banks. The shadow banking system can also refer to unregulated activities by regulated institutions, which include financial instruments like credit default swaps.