Links - CRE Timebomb, Housing Tax Credit, Leverage Ratios... Oh My!

U.S. Office Vacancies Reach Five-Year High of 16.5%, Reis Says (Bloomberg via CalculatedRisk)

Fed Frets About Commercial Real Estate (WSJ via CalculatedRisk & NakedCapitalism)

Starwood Group Strikes Deal for Corus Assets (DealBook)

Manhattan Office Vacancies Reach Five-Year High (Bloomberg)

Apartment Glut Expands: Vacancy Rate Rises to 7.8% as Unemployment Dents Demand; Monthly Rents Slip (WSJ via Naked Capitalism)

US apartment vacancy rate hits 23-year high-report (Bloomberg via CalculatedRisk)

The Housing Tax Credit and the Consumer Price Index (CalculatedRisk) - Interesting take on how the housing tax credit is actually contributing to apartment vacancy and falling rents, and how that in turn could cause deflation... very interesting how all the parts fit together.

The Elusive Leverage Ratio (Reuters)  - There has to be a way to make the leverage ratio requirements at least remotely useful. As is in this country, they aren't worth much...