Better and Better

(CMBS delinquencies by property type; $ in billions) Source: Standard & Poor’s, www.standardandpoors.com, Larry Kay, 212-438-2504

(CMBS delinquencies by property type; $ in billions)

Source: Standard & Poor’s, www.standardandpoors.com, Larry Kay, 212-438-2504

Source: Standard & Poor’s, www.standardandpoors.com, Larry Kay, 212-438-2504