J.P. Morgan Bullish on Commercial Real Estate (YahooFinance)
J.P. Morgan Chase & Co. reported that existing commercial real-estate loans rose 12 percent in the third quarter to $61.5 billion. Nationwide, as of June 30, U.S. banks held more than $991.2 billion in commercial real estate loans, a 3.3 percent increase year over year. Both are clear signs that lending to developers and property owners is on the rebound. In fact, J.P. Morgan CFO Marianne Lake echoed this sentiment, ‚??The commercial-real-estate business continues to grow strongly.‚?Ě She also noted that loans have increased ‚??every month for the last 13 months.‚?Ě Investors will get an even clearer indication today, as Citigroup, Inc. reports its Q3 earnings, with Bank of American to follow tomorrow. Will they concur that it‚??s time to get back into commercial real estate plays?
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