April 29, 2009

Next economic crisis looms: Commercial real estate defaults

Two years after fissures in the residential housing market gave way to a national collapse of home prices and sales, experts warn that the the commercial real estate market is next shoe to drop, bringing more woes to the battered economy. Thousands of commercial mortgages valued at hundreds of billions of dollars are approaching their renewal dates, and by some estimates, two out of every three no longer will meet the original loan conditions and won't be able to be refinanced.

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