‘The Worst is Yet to Come’

Business owners should start stocking up on beans and potatoes, because apparently the worst of the housing crisis hasn’t even hit yet.

“The worst is to come. .. typically, there’s a lag between when the economy softens and when defaults actually occur… Like all firms that hold these kind of mortgages, we’ll have some issues,”said Steven Kandarian, chief investment officer at Metlife Inc.

Kandarian says that once the current economic crisis ends, commercial mortgage delinquencies will still rise for two to three years. (more…)