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  1. 04-06-2010, 05:16 PM #1
    AirborneSapper7
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    Warren: Commercial Real Estate Is Sinking Fast

    Warren: Commercial Real Estate Is Sinking Fast

    Tuesday, 06 Apr 2010 09:28 AM
    By: Forrest Jones

    About half of the country's commercial real estate mortgages will be "underwater" by the end of 2010, meaning the value of the assets will be less than what's owed on them, says Elizabeth Warren, a Harvard law professor and chairman of the Congressional Oversight Panel of the Troubled Asset Relief Program.

    That's bad news for the economy and small and midsize banks, which will need up to three years to work out the problems, Warren says.

    “We now have 2,988 banks — mostly midsize, that have these dangerous concentrations in commercial real estate lending,â€
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  2. 04-06-2010, 05:32 PM #2
    swatchick
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    I heard in December that the commercial real estate market would take a hit. Many businees will make money and may not be able to pay rent and then there are those whose leases are coming up for renewal. They may not renew if they can't afford it.
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