Commercial Real Estate Holders Decide to Walk Away: The Continuing Double Standard from the Banking Industry. Debt Ceiling Raised to $12.4 Trillion Making Room for more Bailouts.

* Posted by mybudget360 in bailout, banks, commercial real estate, corporate power, economy, i-banking, real estate
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There will be many new financial stories in 2010 but one that is certainly to garner much attention is the implosion of the commercial real estate market. A $3.5 trillion market that has taken it on the chin alongside the residential real estate market. The commercial real estate debacle usually follows a similar pattern. Residential real estate pulls back followed by commercial real estate. But in this massive decade long real estate bubble commercial real estate debt ballooned into uncharted territory. The bust is going to be deep and has no parallel in history just like the housing bubble bursting. Yet the U.S. Treasury and Federal Reserve have already had backroom talks about coming out with a “Plan Câ€