DALLAS-The peak of distressed properties has come and gone, according to Gregory Leisch, chief executive officer of Delta Associates.
“Our conclusion is that we have reached a plateau in the volume of distress,” Leisch said during a special address at the 2nd Annual RealShare Distressed Assets conference here at The Adolphus Hotel. More than 350 executives attended the conference, which was produced by ALM-Real Estate Media Group.
“From March 2009 to March 2010, we saw [distress] increase about $10 billion per month,” Leisch noted. “Since then it’s been flat. Therefore, it is our thesis that we have seen the peak.” As more proof to back up his thesis, he added that this month, for the first time, the industry has seen a decrease in construction loan delinquencies.
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