We haven’t heard much recently on the commercial real estate front other than some big workouts have been done for loans of some high profile deals before the financial crisis hit. Today, Fitch Ratings issued a report that makes it clear that while the commercial real estate market may have shown signs of improvement in some parts of the country, in others it remains a problem.
Fitch downgraded a series of mortgage passthrough securities today because of problems with some of the underlying loans. We know how hard hit the housing sector has been and how related companies suffered as well. But perhaps no town has suffered as much as High Point, NC.