The August doldrums continue. There seem to be about enough items to do a roundup every other day. So I'm very late to getting around to the big--the extension of TALF for another year. So far, however, I still haven't seen a ton of reaction to it. People are happy it's happened. Some say it needs to be extended even further to truly work. And it doesn't seem to be enough to stop the deluge of negative stories and commentaries about commercial real estate.
- Housing Wire reported that Fitch Ratings expanded its analysis of commercial real estate as the performance metrics “deteriorate at an unprecedented pace.”
- Seeking Alpha posted a distressing report on why the residential market is far from stabilizing.
- RetailSails posted the weekly rundown of same-store sales data looking at both ICSC's numbers as well as Redbook Research's figures. Numbers are coming in negative, affirming the view that this back-to-school shopping season has been incredibly weak.
- Forbes has a commentary about what a recovery in consumer spending might look like. The article concludes that spending will rebound, but consumers will remain cautious for a long time.
- USA Today wrote the most recent commercial real estate doom and gloom report. It looks at the latest distress data from Real Capital as its starting point.
- Here's the basic rundown of the TALF extension, if you haven't already seen it by now.You might also want to check out the Bloomberg version.